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You really have two different choices:
1. SPY, which is traded on the american stock exchange. SPY is much
like an S&P500 mutual fund, except that you can trade it within the
day. You can also short on a down-tick if I remember correctly. AMEX
calls SPY a "trust". YOu get dividends, from the SP stocks. Expense
ratio is about 0.18% if I recall correctly
2. Futures. Either mini (symbol ES) or large (symbol SP). No dividends,
good volume. Electronic execution for ES, open outcry for SP. visit
www.cme.com for more data.
Do not plan on using SPY for day-trading. The specialists at the AMEX
do no provide timely executions in my experience. Both ES and SP work
well for day-trading.
Allan
--- Sean Taylor <sean.taylor@xxxxxxxx> wrote:
> If I want to buy/sell the S&P 500, what instrument(s) should I/could
> I use?
> I'm told that SPX is simply the index and cannot be traded, one has
> to trade
> instruments that reflex the index.
> Can anybody shed further light on this for me ?
>
> Many thanks,
> Sean
>
=====
---
Allan Havemose, Ph.D.
havemose@xxxxxxxxxx
havemose@xxxxxxxxx
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