AFAIK, the opening price is based on the opening price of all 30 stocks, whenever they may open.
A guy saying 2247 is a buy is not saved by a delayed opening in IBM.
Date open high low close
23-Jan-08 11,969.08 12,339.10 11,530.12 12,270.17
22-Jan-08 12,092.72 12,167.42 11,508.74 11,971.19
18-Jan-08 12,159.94 12,441.85 11,953.71 12,099.30
17-Jan-08 12,467.05 12,597.85 12,089.38 12,159.21
According to Yahoo, over the weekend 18- to 22- Jan 2008, the Dow only lost 7 points, closing on Friday at 12,099 and opening at 12,092. Notwithstanding that the futures market indicated a down 500-or-so open, and the index indeed went there within the first few minutes. I don’t think any trades occurred or could have occurred at 12,092.