I Added This Column to My Screen and Watched It Eliminate All the Noise

by Geof Smith | Aug 31, 2026

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If you flipped on CNBC and heard, “Nvidia is up two dollars,” you’d think it was a good day to be long, right?

Not so fast.

Most traders track a stock’s performance against yesterday’s close. That’s what financial networks report. Honestly, I don’t care about that.

I can’t go back to yesterday and trade. The only thing that matters is what the stock is doing now, starting from where it opened this morning.

That’s what I call tracking “net open” — the change from the day’s opening price. It’s the real scoreboard for the game you’re actually in.

The Nvidia Example That Says It All

Let’s say Nvidia (NVDA) closed yesterday at $212. This morning, it gaps up and opens at $224 — maybe because of earnings or other news.

Now suppose NVDA drops to $214 by midmorning. The headline might say, “Nvidia is up $2 on strong earnings,” because $214 is $2 higher than yesterday’s close.

But if you bought at the open at $224, you just lost $10 per share. On 100 shares, that’s a $1,000 loss — not a $200 gain.

The person who held from yesterday made money. If you’re trading from this morning’s open, you’re down. Yet the news is telling you the stock is a winner.

Net open also helps you stop guessing among every possible direction. Draw a line at the opening price, then watch how the stock behaves around it.

Holding above that line suggests buyers are in control. Falling below it reveals weakness the headline may be hiding.

You can also watch how a major stock affects the broader market. If NVDA begins to perk up from its open, that strength may help lift the Nasdaq 100 (NDX, QQQ).

If NDX fails to respond, that’s useful information too. You’re observing real-time behavior instead of forcing a prediction.

Cut Through the Market Noise

Think of it like a football game. Nobody arrives for the final five seconds and claims to have watched the game. You want to see everything from kickoff to the final whistle.

My quote monitor has three columns: Open, Last and Net Open. Open shows where the stock started the day. Last shows its current price. Net Open measures the change from that starting point.

If tracking individual stocks creates too much noise, exchange-traded funds (ETFs) can offer a broader view. You don’t have to identify the one company that will lead.

You can follow an entire sector or index and use its opening price as the same real-time reference line.

So the next time you hear that a stock or ETF is “up,” ask: Up from where?

If it gapped higher at the open and has been bleeding ever since, that’s not strength. That’s distribution dressed up in a headline.

Know where the game starts. Trade what’s happening now.

Stay sharp,

Geof Smith
Geof Smith Trading

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