HL Camp & Company

 Today's Buy/Sell Programs

For Friday May 9, 2008

What's New!  Were you prepared for Wednesday's sell off? Our clients were.  Would you like to see the exact same Program Trading Research report sent to our clients on Tuesday night, telling them in advance all about Wednesday's sell off?  If so, then simply email us your name and phone number and we will call you with the private URL for Wednesdays S&P Report.

Program Trading Execution Levels

Our FairValue for the SP 500 today is $.52.  That price level will not change during the day.  Our computers are set for program buying at $2.06 and set for program selling at $-1.02.   If you would like to watch these premium execution levels, the symbol is PREM.   That is PREM.Z, and EPREM AO from two relatively good data vendors that do it correctly and $prem, prem.x, sps, or any other weird ticker symbol from the other mediocre and horrible ones.

Program Trading or Index Arbitrage
Please do not confuse our program trading premium execution levels listed above, with so called theoretical execution levels for index arbitrage listed in the media and announced each morning on CNBC.  Theoretical levels for index arbitrage are only applicable for certain types of modeling and back testing, and theoretical paper trading in general.   Theoretical execution levels are neither accurate nor reliable for real trading in your own accounts.   Theoretical levels are never applicable for professional traders using the CME, NYSE, and NASDAQ, with real money, and trading for real profits.   Professional program traders never use any theoretical execution levels.  So be extremely careful if you are using theoretical calculations designed for index arbitration.

Our program trading premium execution levels listed above, are the actual price levels that our clients will use today to execute computer assisted buy and sell programs for many different program trading strategies.  Our execution levels are different from the theoretical levels announced on CNBC.  Our levels include certain costs not even included in theoretical formulas.  If you would like to know more about that, simply email us.   Normally our premium execution levels are higher for program buying, and lower for program selling, than theoretical levels compiled from theoretical models on college campuses.   But not always.  Please be advised that our execution levels are set to front run theoretical levels on some days; either on the buy side, or sell side, or both.  If you are using theoretical levels, you will always be late and will always have additional and unnecessary losses.  Unlike theoretical index arbitration, there is a very good reason why the spread between our program buying execution level and fair value is different than, and not equal to, the spread between our program selling execution level and fair value, on most days.  If you have noticed how those spreads change from day to day and have been wondering about that, then send us email with your questions.  We will answer your email promptly.

Any stocks mentioned above are only a small sample of the stocks we have pre-programmed for program buying or program selling.  If you would like more information about that, and the stocks we have pre-programmed for today, then simply email us your requests.  We answer all email promptly.