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Strategies & Market Trends : Waiting for the big Kahuna
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To: James F. Hopkins who wrote (24296)8/14/1998 8:36:00 AM
From: Pierre J. LeBel  Read Replies (2) of 94695
 
Interesting situation developing today on JP Morgan.

Based on rumors of takeover, JP Morgan is UP 12 points in Europe this morning, explaining part of the large move on the S&P500 futures traded on GLOBEX.

Now, Morgan is part of the Dow Jones and a 12 point move would represent about 40 point increase in the DJI.

However, Morgan is not part of the S&P 100 OEX where most option players speculate on short term moves.

It could develop into an interesting divergence.

Comments anyone?

Pierre
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