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I suppose this is subject to some interpretation, however I'm of the opinion
that wherever the dog (cash market of s&p stocks) goes, the tail (futures)
will follow. This is not to say that there is not arbing of cash to futures
which shows up in the premium differential to fair value and that the
size/direction of that differential is not, at times, a good indication of
market direction. Also, one should keep in mind that only a small percentage
of the pit trades are reported via real-time feed and that those reports lag
the actual trade by the time required for the pit clerk to manually enter
the trades.
Earl
-----Original Message-----
From: swp <swp@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, January 30, 1999 8:15 AM
Subject: Re: Dow Jones Industrials Futures
>The futures prices tend to lead the cash market, at least in the S&P
>500. I assume it is also so in the Dow.
>
>Steve Poser
>--
>Steven W. Poser, President
>Poser Global Market Strategies Inc.
>http://www.poserglobal.com
>
>> Brendan R Smyth wrote:
>>
>> Is it feasible to day trade DJI futures contracts by monitoring price
>> movement on the actual index with e.g. a 1-minute bar chart or do you
>> need to monitor price movement on the contract you are trading?
>>
>> Anyone with comments or advice appreciated
>>
>> Brendan Smyth
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