Before morning trade opens NYSE, why is there almost always a very high ASK on streaming quotes board before?

Question

SLB and today the ASK is set at 74.47
If it reaches my set "limit" why does it not accept it before 9 am?

Answer 1

Probably this is to satisfy the uptick rule. That is on the opening bell anyone can shortsell only if the days quote is one uptick than the previous close. So the day starts with one uptick or above so that the usuall proceedings can take place smoothly. If you placed a bid and if it was below the days starting price probably they want to see if there is going to be a sell out for the day or buy depending on the days trend. Anyway always the stocks start with a buy on the uptick. One tick is 1/8th of a basis point. So if previous days close was 20, todays trading starts with 20 1/8th, then anyone can short or long depending on the trend. If your bid was somewhere between 20 and todays first trade that is either 1/8th or 5/8th say then it will execute after the highest bidders trade is executed.
74 4/8th is the ask set for today. If your ask is less than this meaning you accepted that it has reached your bid, then as I said earlier there is a bid above yours which got the priority as the first trade.