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Politics : Idea Of The Day

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To: Sonki who wrote (21057)	10/25/1998 9:39:00 AM
From: studdog	of 50167

Sonki, <<I need to offset smallcaps w. my SPY. >> I am also using SPY. Possibly in a different way than you though. I have begun shorting SPY as a hedge for my mostly small and mid cap portfolio. Didn't work too well last year but has been working fine lately. I am anticipating further run up in the small caps to about the 200dma on the RUT. This may take the other indices above their 200dma's but I am shorting SPY every couple of points on up to near this summer's top, where I will bail on my longs and keep my shorts. If the market drops sooner I have a cushion with my short SPY's.

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