Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bonnie Bear who wrote (24078)	8/12/1998 11:20:00 PM
From: James F. Hopkins	Read Replies (1) of 94695

Hi Bonnie; Well the spy has been steady gaining in popularity, they said it set a record last Wednesday. If you remember I posted I wish I had got the MDY the other day instead of the DIA, well I should have got it yesterday it gaped up today, but instead of chasing it I went back to the DIA. I do think the MID caps are now going to converge towards the S&P, the divergence is past it's normal limit, and in fact it started converging today. PESPX is a no load that tracks the MID cap, I guess one could short the SPY , then go long an equal amount of Dollars in the PEXPX, and have a hedge that just plays off the divergence. It would be a bet on them converging. I sure wish they had a spider for the small caps. Jim

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