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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (5438)	1/21/1999 10:06:00 PM
From: IJReilly	Read Replies (3) \| Respond to of 122087

Gersh-"SP9h and ND9H were the only two that I looked at .. It would not surprise me to find out that ten or 15 indexes were hit at 4:05 today." SP9h and ND9h are futures, and they trade at the Merc until 4:15. I don't know of any other index futures that trade with any volume, thus these would be the only 2 that could actually trade at 4:05. (The actual indices, like SPX, OEX, NDX, will sometimes print after 4:00 due to closing prices coming in late from MOC orders on individual stocks, however). A sharp futures move will sometimes occur from 4:00 to 4:15 because a large futures order cannot be hedged in the cash market, and also because many locals do not want to go home with a position of any size. I believe what Lisa was asking was whether the move in the futures was the result of MOC sell orders on the NYSE, causing the buyers to sell futures after the NYSE closed to hedge themselves, or if there was an independent order to sell futures which caused the sell off. I'm afraid I don't know the answer as I wasn't paying attention to stock imbalance news either. (You probably know most of this but thought I'd help to clear it up for anyone else on the thread). IJ