Trading SPY and DIA for Fun & Profit Message Board

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Strategies & Market Trends : Trading SPY and DIA for Fun & Profit

SPY 687.39

0.0%

Oct 29 4:00 PM EDT

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To: DD™ who started this subject	11/30/2000 3:28:09 PM
From: Howard Clark	Read Replies (1) of 130

Wow, quiet thread. Guess there hasn't been too much fun or profit trading SPY or DIA lately. Anybody got this bookmarked? Anyway, I had an idea today. I executed a pairs trade today: I went long SPY and short XLK (technology SPDR) in about a 4:1 ratio. Since the SPY is (I think) about 25% technology, the XLK short should wash out the technology portion of SPY, resulting in a long position in the non-technology portion of the SPX. Admittedly, this would have been a better idea a couple of months ago. I'm too chicken to play tech either long or short at this point, but I think there may be some good values in the rest of the market. Anybody out there think this is a smart/dumb idea? Is there anybody out there at all?

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