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Strategies & Market Trends : The OEX... gasp!

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To: Leland Charon who wrote (476)	1/31/1997 8:26:00 AM
From: Stuart Briscoe	of 658

Leland, Patrick is out of town until the middle of next week, so I'll try to answer your first question about buy/sell programs. Each day you can call your broker or tune to CNBC to get the buy/sell prices. Yesterday I was told that the buy programs could kick in if the spread got to 4.06 and sell programs could kick in if it was 2.56. I use Signal real time and I enter $PREM for the spread. I add that figure to the SPX (cash bond) to compute the SP future. There are a lot of other indicators to watch, such as the tick and TIKI to see if there is institutional buying going on. For instance, the tick will not register high values, such as over 400, unless there is institutional buying. If the indexes are going up without the institutions buying, then the rally will be short lived. Negative tick values and a rising index is a sure indicator that it will come down. There are so many factors affecting market direction, particularly bond yields, that there is no way I could list all of them here. I'm going to some seminars on program buying/selling to gain a greater insight into it all. Hope it helps a little. -Stuart

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