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I use spiders also and I understand that they can be shorted even on a
down-tick, or
more specifically the "uptick rule" does not apply to SPY.
And now we have DIAmonds that work the same way.
STAN
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> From: Richard <richard@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: stocks:our S&P
> Date: Thursday, January 22, 1998 10:26 AM
>
> >How do you go short using SPY's? Do you have to sell them short on an
> >uptick from a margin account? Is there an instrument on the exchange
> >like the RYDEX Ursa mutual fund that you can go long an instrument that
> >does the opposite of the market--that is without having to sell short?
> >I'm looking for something that's not a deteriorating or highly leveraged
> >vehicle (e.g. options and futures) to trade both sides of the market.
>
> Vehicles are only "highly leveraged" if you trade them that way. There's
no
> law saying you have to trade using exchange/broker minimum margins. For
> example, with an account of $40,000, trading one E-mini S&P would be
> roughly equivalent to selling SPYs short.
>
> Just a thought...
>
> -Richard Bloch
>
>
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