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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (7708)11/12/1997 4:26:00 PM
From: Tommaso  Read Replies (1) | Respond to of 18056
 
Bonny, I am trying to see what makes SPY a bad short. Does it get out of line during the day with the actual S&P? The closing quote seems almost exactly 0ne-tenth of the S&P. If you held it over a long decline in the market wouldn't you get just about exactly the amount that the S&P declines? Is the manipulation by brokers during quick changes in the indexes during the day? I could certainly believe that someone was shaving bits off on either side.

I don't have any complaints about my SPY. Actually it's down 2.06 % on the day against 1.93% for the actual S&P.



To: Bonnie Bear who wrote (7708)11/12/1997 4:35:00 PM
From: Zeev Hed  Read Replies (3) | Respond to of 18056
 
I do see a reflex rally but quite mild and then resumption of the decline late afternoon going into a very nasty Friday, up a little possibly tomorrow, but my Friday close target is now under 7250. My tea leaves do not indicate relief for the gored bull until next week, and probably not before Wed. But gosh, this is too far in the future.

Zeev


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