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In a message dated 98-01-13 17:09:52 EST, allank@xxxxxxxxxxxxxxxx writes:
<< Nearby S&P futures contract leads everything (cash is not king). >>
Hi Allan,
This is one of the ironies of life, that the derative leads the
underlying, but anyone who has ever watched Squawk Box on CNBC knows that when
futures trade significantly above fair value, buy programs kick in. Same
thing happens on the down side when they are below fair value with sell
programs kicking in.
The question is how to trade it?
Ray Raffurty
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