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To: DanZ who wrote (24517)	9/22/2000 5:08:35 PM
From: Iceberg	Respond to of 53068

>the QQQ...trades like a futures contract because its price is set by buyers and sellers of a derivative security Dan, Right! I agree. Being a derivative, it acts "like", and serves a similar purpose, as a futures contract, whether it's called a futures contract or not. A derivative is a derivative. Period. >I didn't mean to imply that the QQQ is a futures contact, and am sorry if my message came across that way. No need to apologize as far as I can see. You made it explicitly clear in your earlier post that the QQQ is NOT a futures contract. If there is any doubt, all anyone has to do is go read what you said. Your post, IMO, was excellent, and what I would call "brilliant". Ice

To: DanZ who wrote (24517)	9/22/2000 5:24:21 PM
From: Iceberg	Respond to of 53068

>Now, does the QQQ lead the market or does the market lead the QQQ? Dan, From my limited experience the QQQ does NOT typically lead the market. Today's action was, and again, from all I've seen, HIGHLY, atypical. In fact, I've never seen this happen before [please correct me if I'm wrong on that point]. Today's abnormal market behavior was what prompted my original question. So I think your associated question is an appropriate one, and is one that needs to be further explored. Ice