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Since so few know so little on this subject, I have made a web search for
all URL's having anything to do with "Fair Value". In order to minimize
bandwidth, I thought I'd request that you send me your eml address by
sending me JUST a blank message with the words FAIR VALUE in the subject. I
will respond by sending you the list of URL's for you to do your own research.
Possibly we could co-operate in sending our findings to the list -- since
there is about 200 URL listings.
There are, no doubt, a lot of "trash" as the phrase Fair Value has meanings
far afield from trading.
I suggest some start at the top of the list, those that could care less
could start at the bottom. The middle of the roaders, start at the 100
level, and some go up while others go down. In this manner our effort need
be only 1/4th that needed otherwise.
I suggest the Subject FAIR VALUE SURVEY be used when posting your results.
Results need only be posted when you find a URL of definite interest.
Now after all that malarkey,
Good Searching!
Hal
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At 09:40 AM 3/3/98 -0800, rjn7 wrote:
>Ray,
>You're right about Fair Value apparently influencing buy and sell programs.
>CNBC often states prior to the open that the combination of futures and
>Fair Value will trigger buy or sell programs. But I have no idea where the
>trigger point would be. Perhaps it is particular to each program. I also
>don't know how to track those symbols.
>Most frustrating is a situation like yesterday afternoon when the Dow
>suddenly dropped about 30 points. A little later a CNBC reporter announced
>that "a sell program was triggered" at 3:02 and led to the quick selloff.
>Obviously he had the news about the sell program very quickly. I would like
>to have access to the same news, too, to assist in decisionmaking.
>Someone suggested the site programtrading.com but it seemed oriented toward
>promoting seminars. I'll keep looking.
>
>bob
>
>----------
>> From: TRaffertu <TRaffertu@xxxxxxx>
>> To: rjn7@xxxxxxxxxxx; realtraders@xxxxxxxxxxxxxx
>> Subject: Re: DETERMINING "FAIR VALUE"
>> Date: Monday, March 02, 1998 6:06 PM
>>
>> In a message dated 98-03-01 13:19:57 EST, rjn7@xxxxxxxxxxx writes:
>>
>> << Fair Value changes during the day. Check the CNBC ticker: Look for
>PREM,
>> the actual spread or premium, followed by FV for Fair Value. When PREM
>is
>> more than FV there is a bias in the market to the upside, and when PREM
>is
>> smaller than FV the bias would be to the downside. >>
>>
>> Hi Bob,
>>
>> Excelent comment. Like you I also check fair value before the
>open
>> to give an indication of early market direction. However, as I
>understand
>> it, the relationship to fair value also indicates when computerized buy
>or
>> sell programs are likely to kick in. (Today they moved the market down
>about
>> 30 Dow points).
>>
>> This brings up two questions for you and other RT's:
>>
>> 1) Is there a symbol for Fair Value and Premium that can be
>> downloaded and possibly charted for further study?
>>
>> 2) At approximately what point above and below Fair Value do
>> buy/sell programs kick in? I know these programs are propritary and
>include
>> variables such as the cost of money (interest) paid, so no two are
>exactly
>> alike but there are similarities which can be estimated (averaged?)
>>
>> Any thoughts would be appreciated. Thanks.
>>
>> Good luck and good trading,
>> Ray Raffurty
>
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