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MOVING AVERAGES  |  February 5, 2003
A Look at Spiders Using the Red/Green Strategy
SPIDERS (SPY) or SPDRs are the first index shares created by Amex and introduced in 1993. They are Standard & Poor's Depository Receipts and as such, reflect the movement of the S&P Index. They trade just like common stock under the symbol SPY, and pay dividends, but unlike stocks, they can be shorted on downticks. This enhances their liquidity.
by Koos van der Merwe

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