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<I trade the SPY on an intermediate -> longer term basis. The most
important thing you should know about it if you plan to trade shorter term
is that
the price tends to follow the SP500 futures - not the SP500 cash. The
second
most important thing is you have to be able to convert prices in 32nds and
64ths
off the top of your head <g>. Of course - you can't use the same leverage
with
the SPY that you can use with the futures. If you're a beginner - that's
probably an advantage. Robyn>
Another thing to look at is if you are able to trade SPDR's (SPY) from short
side through your account. Shares to use for shorts are not always available
on demand from the clearing agent - which is something to consider when
choosing a broker.
The SPDR's are traded at the AMEX by specialists and I'm not sure if any
trading actually happens completely electronically. If anyone knows I would
like to know this myself. I heard that at the AMEX, there is a clerk hand
signalling the S&P futures market to the specialists making the SPY market
>DavePyle00@xxxxxxx wrote:
>
>> Can anyone offer some insight into the stock that trades like the S&P? Is
it
>> an alternative to trading futures or an index fund? I would like to learn
>> more.
>>
>> Thanks
>> Dave
>
>
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