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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket. -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (1136)	8/24/1999 10:52:00 AM
From: Matthew L. Jones	Read Replies (2) \| Respond to of 2103

Fred, I think you might be on to something. Last year when I was on the floor of the AMEX, I went to the SPY specialists' post. At the time the SPY was the darling of the AMEX (NASDAQ had not yet merged and the SPY more or less saved their exchange). The specialist indicated that they would be rolling out the Nasdaq 100 version in the spring (which they did) and that the SPY would be trading options (which they didn't). At any rate, right above this huge post (counter) where the SPY (and I would guess the QQQ) are traded, there is a huge readout of the S&P Futures (cash and Globex) as well as some foreign currency futures. It would make sense that if the specialist saw a move in the futures he would adjust his market immediately even though the NASDAQ market makers had not all had a chance to adjust. What do you think? Does this sound plausible? So the QQQ would actually follow the futures as would the $NDX. That would explain why sometimes the $NDX lags and sometimes the QQQ would lag. Thanks for the comment. Matt