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Can anyone tell me (or e-mail me) where i can get historical data on the INDU, SP500 and (or) the OEX...as far back as possible...(Opens, Highs, Lows & closes) i have what was on the Omega disk, but i need more....
I'm currently trying to work on a program that identifies similar periods of % change to highs, lows & closes over daily bars, but i just don't have enough data to make it worthwile...
Thanks,
MikeFrom ???@??? Sat Mar 21 16:54:36 1998
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From: "Tom Cathey" <K1JJ@xxxxxxx>
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Subject: Stocks - the shame of it
Date: Sat, 21 Mar 1998 19:37:03 -0800
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Most stock traders would agree that a spread of 15 bid - 15 1/8 ask is
fair and not bad for an average stock.
Imagine that this equates to the S&P 500 future having an 1100 bid and
1108.80 ask ????
(It's normally 1100 bid 1100.10 ask)
To equate to this S&P spread, the $15 stock would now be 15 bid - 15
1/11000 ask ....a little better , huh?
I just don't know how stock traders put up with that crap, or make money
day trading with this kind of "market maker" vulture activity. I do
realize it's just a reflection of liquidity since there's only 25-30 liquid
commodities and thousands of stocks.
BTW, I've seen stocks at 30 bid - 31 ask many times.
This equates to S&P 500: 1100 bid - 1135.20 ask --- gag me !
OR.....common option screw jobs are say, 2 bid - 2 1/2 ask
S&P 500 eqivalent: 1100 bid - 1375 ask <g>!
With no margin interest, commissions under $15 round turn, a fair spread,
(on most commodities) no uptick rule, on-line web direct to the pit
access, etc..... futures are quite a respectable vehicle compared to
stocks. I think when all expenses are added up, day trading stocks puts
traders at a great disadvantage with a false sense of security. Yes, I've
seen stocks go "limit down" too - opening down 15 points, etc....surprise,
surprise, surprise!
Tom Cathey
> This is a decided disadvantage if you need quick and relatively sure
> executions (i.e. this works against the daytrader of stocks). If the
> 1/8 or 3/16 "slippage" doesn't matter to you, that's great. If your
> position trading, it may be fine. But daytrading, every tick counts
> and you must have as much control over your order as you can get.
>
> There's also the issue of how well disclosed this practice is...
>
> fwiw
>
> cw
>
>
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