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Strategies & Market Trends : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: MonsieurGonzo who wrote (743)	11/24/1997 9:31:00 AM
From: Esteban	Respond to of 1589

Steve, >>Obvously this thingy is the S&P index in "stock" form that people can buy and sell.<< Exactly. Trades on the AMEX and follows the SPX futures and usually leads the SPX. I like it as a place to learn index trading. The costs of taking a position are very low, and the liquidity is excellent. It is made to track the S&P 500, like the ADRs are made to track foreign country indices. I don't know too much about the organizational details. There's a recently started thread about it that's been pretty dead lately. Here's the link. exchange2000.com I like SPY better for candles than SPX. My chart generator doesn't show morning gaps as clearly on the SPX. Plus it's tradable. Esteban

To: MonsieurGonzo who wrote (743)	11/24/1997 10:05:00 AM
From: Tom L. French	Read Replies (1) \| Respond to of 1589

Steve What timing! I've been trying to find out something about SPY (Spiders) since I saw a reference in Barron's about 3 weeks ago. This morning I went the AMEX page again (the best stuff I've found is there) to print what they have... then I think to myself, people on SI seem to know a lot, I'll see if they know about it... so I check SI and the first post I see is from Estaban to you about SPY! OK enough of that... we're all interested in SPY (Standard & Poors Depository Receipts), which matches the SP500, can be traded just like stocks, but you don't have to short after an up tick (so you can really ride it down if you want to), has the highest volume on the AMEX. That's what I remember from Barron's. Here is some stuff from the AMEX site: >>Welcome to Investment Trusts and Securities on the American Stock Exchange. These innovative securities make it easy for you to buy or sell entire portfolios of stocks as easily as you do shares of a single stock. They provide investments that seek to track the performance of specific and well-known indexes and trade on the Amex like any other listed stock. Trust listings include SPDRs (pronounced "spiders") Standard & Poor's Depositary Receipts, designed to track the value of the benchmark S&P 500 Index; MidCap SPDRs, designed to track the value of the S&P MidCap 400 Index, a benchmark for middle capitalization companies, and WEBSSM -- World Equity Benchmark Shares -- which seek to track the performance internationally of specific Morgan Stanley Capital International Indexes (MSCI) of 17 different countries. For more complete information on SPDRs and MidCap SPDRs, including charges and expenses, you may electronically download a Complete Prospectus. You can request a paper prospectus from PDRSM Services Corporation, c/o The American Stock Exchange, 86 Trinity Place, New York, NY 10006-1881 or by calling 1-800-THE-AMEX. Please read it carefully before you invest. Introduction and History Simple ways to establish broadly diversified investments, instantly. That's what the Amex's Investment Trust securities offer you. They allow you to invest in, and trade, the performance of various indexes and provide opportunities for you to target your exposure to various markets. Amex Investment Trust securities currently offered include the following: SPDRs -- Standard & Poor's Depositary Receipts (ticker symbol "SPY") -- were listed for trading on the American Stock Exchange on January 29, 1993. These exchange-traded securities represent ownership in the SPDR Trust, a long-term unit investment trust established to accumulate and hold a portfolio of common stocks intended to track the price performance and dividend yield of the Standard & Poor's 500 Composite Stock Price Indexr. Click here: SPDRsr for information on how you can capture the "market" in one investment! MidCap SPDRs -- Standard & Poor's MidCap 400 Depositary Receipts (ticker symbol "MDY") -- were listed for trading on the American Stock Exchange on May 4, 1995. These exchange-traded securities represent ownership in the MidCap SPDR Trust, a long-term unit investment trust established to accumulate and hold a portfolio of common stocks intended to track the price performance and dividend yield of the Standard & Poor's MidCap 400 Index. Click here: MidCap SPDRsT for information on how you can invest in 400 stocks with one investment! WEBS began trading on the Amex on March 18, 1996. They allow you to invest internationally in 17 different countries. CLick here for more information about WEBSSM. << This seems a great way get experience/practices trading indexes with lower risk than OEX options (without the time decay, etc.). What do you think? (Dumb question Steve: how do you copy a URL and past it into SI?) Regards, TomLF