Hi Scott .. more math:
spoo sold off between 4:00 and 4:30 again, but not as much as yesterday.
For Wednesday, February 3, 1999
For Execution of Buy/Sell Programs
Our computers are set for program buying at $7.86 and weighted for AIG, AMR, AXP, CB, CI, CMB, DAL, DOW, EK, GT, IBM, MRK, SGP, U and UAL; and set for program selling at $3.32 and weighted for BAX, FDX, GM, HWP, KR, and MCD. Our FairValue is $5.58.
quoted from:
programtrading.com
So then .. SPX.X (cash) closed today at 1261.87.
So neutral, as far as the buy/sell programs go, is 5.58 + 1261.87 = 1267.45
Globex session opened at 1265.30
Program sells are set to fire off at 1261.87 + 3.32 = 1265.19
So then, if Globex shows lower than -11 at the open the sell programs are triggered.
At this time I show current spoo at 1263.80. Well into the sell area.
Gersh
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