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Strategies & Market Trends : Shorting SPY for fun and profit. -- Ignore unavailable to you. Want to Upgrade?

To: Esteban who wrote (31)	11/7/1997 12:02:00 AM
From: studdog	Respond to of 346

Trading SPY for me on ETRADE has been very good, especially since I stopped using market orders. I have been getting my short sells through at 1/8 or better above my limit order. (Haven't covered any yet so I don't know about that side of it). I have one word of caution with SPY: DO NOT USE MARKET ORDERS, especially at the open. If the S&P opens at, say, 940, then drops rapidly to 925, you will get your SPY short at 92.5, even if the market officially opens at 940. Karl