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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: Mazama who wrote (5461)	11/6/1998 7:50:00 PM
From: Sam Nizam	Respond to of 7247

Safeway replacing Chrysler on the S&P drives it up because all the index funds that mirror the S&P need to buy it.

To: Mazama who wrote (5461)	11/6/1998 7:51:00 PM
From: Nandu	Respond to of 7247

I agree with everybody that it will be wonderful for us if Tim stays, but maybe it is not so wonderful for him. Personally I have never PM'd him because I know he is a busy man, and it is not his job to hand hold me. I am a grown man. I can take responsibility for my trades, or I shouldn't be in the market. As for Safeway, I mentioned it yesterday. Gapped up today, but stayed flat after that, so it was only good for those who already had it. There is a lot of money sitting in and going into S&P 500 based index mutual funds and they are required to mirror the index closely, so they will buy a stock that is getting added to the index. This is the reasoning - mind you, I didn't say "reason" - that pushed SWY up today.