Re: cash ,,,,

["Jim Cox" <cayenne@xxxxxxxxxxxxxxxxx>]

At 01:14 PM 1/29/99 -0700, Earl Adamy wrote:
>Does the tail wag the dog?


	I have no idea. Cash ahead futures? Futures ahead cash? SPX  vs. SPY?

	Lots of questions and many opinions. All of which are sincere and, I'm
sure, mostly true. After trading and watching both indices for 6 years now,
what I can contribute to the discussion is this:

	My S&P trades are based on my indicators as they are displayed in the
futures market. However, as I'm both dialling my phone broker and hitting
the send button on the internet account, I am for looking at my charts
(with the same indicators as the futures have) of both the S&P cash and the
DJ 30...as well as noting the direction and action ( or lack thereof) in
the bonds.

	I know the floor watches the latest SP cash quote, as well as certain
stocks and the DJ30. I also know they watch the bonds. And I also know we
are all human, with our foibles, biases, ideas, fears, and hopes of glory,
etc. So, simplistically put, I feel way more comfortable putting on and
managing my SP and ND trades with the latest knowledge of what's happening
in the real world of actual stock transactions. Which, after all, is what
are futures are based on.

	The cash quotes are tools. Nothing more and nothing less. Experience and
dedication to the market are a trader's best friends. A couple of good
indicators and sound cash management help also.
It's my firm belief that a successful trader will have a plan with sound
entry techniques, a proven cash management plan, emergency exit strategies
(good stops), and defined goals.

	My only reason to interject any of my thoughts concerning the cash market
indices was to pass along my firm belief that knowledge of the cash helps
all one's futures strategies work even better.

Jim