Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: David E. Henry who wrote (1005)	4/29/1998 6:29:00 AM
From: John Hunt	of 2120

SPDRs -- Standard & Poor's Depositary Receipts (ticker symbol "SPY") -- were listed for trading on the American Stock Exchange on January 29, 1993. These exchange-traded securities represent ownership in the SPDR Trust, a long-term unit investment trust established to accumulate and hold a portfolio of common stocks intended to track the price performance and dividend yield of the Standard & Poor's 500 Composite Stock Price Indexr. amex.com DIAMONDS (DIA) are securities that let you buy or sell a portfolio of the stocks that represent what many call the "market" - the Dow Jones Industrial Average (DJIA). They give you ownership in the DIAMONDS Trust, a unit investment trust that holds a portfolio of common stocks that closely tracks the price performance and dividend yield of the DJIA. So you know that your DIAMONDS are represented by shares of the Dow stocks held in trust and that your DIAMONDS can be expected to move up and down in value with the Dow. As a holder of DIAMONDS, you're also entitled to receive your portion of monthly cash dividends that accrue to the DJIA stocks in the portfolio, less Trust expenses. You may also be able to participate in dividend reinvestment as further explained on this site. amex.com Both allow investors to buy and sell 'units' that trade like stocks and that represent ownership in all stocks of the S&P 500 and the Dow. Because of their relatively low price, they are traded in high volumes. John

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