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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Petz who wrote (80798)	11/23/1999 1:25:00 PM
From: Bilow	Respond to of 1573075

Hi John Petzinger; Sorry, thought I was on the daytrading thread... The SPOOs are the S&P500s (at least I think that's why they're referred to that way). The most liquid futures contract, scalpers generally keep a close eye on it. It looked like it was topping out, it had made a pretty good retracement from the day's bottom, and, besides, AMD was showing (and still is showing) ask size at 26 1/4. On most days, I sit around risk-arbitraging the SPOOs against Nasdaq stocks. If the SPOOs go up, I buy stocks. If they go down, I short stocks. The majority of my trades take less than one minute. You can't scalp NYSE stocks that fast, but you can still buy and sell them while keeping an eye on the SPOOs. Today, some of my tools are broken, so here I am, shooting the bull. -- Carl