Trading SPY and DIA for Fun & Profit Message Board

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Strategies & Market Trends : Trading SPY and DIA for Fun & Profit

SPY 679.96

-1.1%

4:00 PM EDT

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To: Dale Baker who wrote (87)	12/20/1998 2:23:00 PM
From: James F. Hopkins	Read Replies (1) of 130

I have to take Friday with a grain of salt, it had last minute action in the real big caps due to triple witching. This was not investor driver but speculators who had to unwind futures contracts. To get out of their futures safely they had to borrow money to buy the stocks , I did notice at the last of the trading day futures were selling off as the big cap stocks went up. The spike was the unwinding of short term futures and options, IMO the market is now over bought, and margined. Still I would hedge it for the time being, long SPY short MDY, and leg out of one or the other just as soon as a more pronounced trend showed itself. Jim

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