The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Doug R who wrote (20936)	9/1/1998 10:30:00 PM
From: Alski	Read Replies (1) of 79197

Y'all that want to day trade the S&P500 index but don't want to fool with the options need to look into SPDRs (stands for S&P Depositary Receipts, pronounced spiders). Symbol is SPY, trades on the AMEX. It's an S&P500 unit investment trust that trades just like a stock and has lower trust expenses than your average index mutual fund. Since it trades like a stock it has it's own supply and demand dynamic and can move a little more or less than the index, but usually not very much (up 4.23% today vs. 3.86% for the S&P500), kind of like a closed end index mutual fund. amex.com (can you believe that URL! If it doesn't work just go to amex.com and click the "SPDRs and WEBs" link.) There's also one for the S&P Midcap 400 called Mid Cap SPDR, symbol MDY. Alski

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