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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (40862)	2/22/2000 11:01:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

I believe that he is saying that the Future is trading at a discount to Cash.

To: robert b furman who wrote (40862)	2/23/2000 5:59:00 AM
From: stockycd	Read Replies (2) \| Respond to of 44573

Bob, After the cash index (SP500) closes, the S&P futures continue trading for 15 mins in the regular session. What happend yesterday (which is not at all unusual) is that the SP500 futures contract sold off sharply after the 4 pm close of the cash market. In fact, fair value is around 4 1/2 premium, so with a -3 1/2 premium, the S&P500 futures contract was about an 8 point discount to cash. It just amazes me how they ramp, ramp, ramp, the last hour (even though the last 15 mins was sort of negative) and nail her to the floor after the close. Now unless Globex is major up this morning, we start the day in a sell program, just before the Greenspan speech! Which is fine by me.... Hope I helped, Chris