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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (6322)	7/18/1999 1:44:00 PM
From: MonsieurGonzo	Read Replies (2) \| Respond to of 11051

Gersh:" ProFund : SPY " >first he wishes to be short in a IRA. The ProFund does this for him but has a problem in that it is end of day only. To overcome the end of day stuff he offsets by QQQ or SPY depending on what the short is he is working with. He then has a neutral bias until the moment that he wishes to be short. At that time he just sells the QQQ or SPY. When he wishes to cover he repurchases. No uptick needed. nice ...fascinating ! obviously, I thought Berney was talking about a "spread", not a mechanism for scalping the difference between intra-day and end-of-day NAV. -Steve