I was just wondering if someone could help me out with this situation:
Basically I've noticed that when the DOW goes up our stocks go up. So with this in mind I've placed a (pretend) limit order now (because I can't place an 'at market' order now as the market is closed, correct?). I've purchased 65 shares of BHP at limit order at $31 as that is when it closed and is the price at the moment.
Now let's assume my prediction is correct and bhp goes up for the day (therefore will open higher when the market opens) will my $31 limit order be processed, given that is what the price is now, if the market is going to open higher the next day? Or will my limit order be skipped?