products that mirror the movement of indexes?

S

scorinaldi

hey gang,

are there any products that mirror the SP 500 and/or the Dow Jones index intraday?

for example, right now if i want to buy into the DOW index, i would have to buy all of the stocks that make it up, in the right proportion, etc...

instead, is there one publicly traded product that already lumps everything together? ( so it's constantly valued at the same percentage up/down that the index is? )

with this i could just buy that one product. ( also, i'm talking about very quick , daytrading moves, so i don't think index mutual funds would be appropriate , unless they are day tradeable )

thanks in advance, sorry if this is a lame, n00b question...

scorinaldi
 
Quote from SWScapital:

E minis...Index ETFS.

ES,NQ ER2...SPY DIA QQQQ..

And many many more.
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ETFs (SPY, DIA, QQQQ) are baskets of stocks that attempt to mimic the index but don't necessarily always do so.
 
Quote from trader07:

ETFs (SPY, DIA, QQQQ) are baskets of stocks that attempt to mimic the index but don't necessarily always do so.
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Can you give an example? Thanks.
 
trader07 is right.

i know that if you look at an intraday chart for SPY and compare it to the intraday chart for the SP500 there is significant drift between the two time series...

i am looking for something that matches the SP or Dow near perfectly...
 
Quote from scorinaldi:

trader07 is right.

i know that if you look at an intraday chart for SPY and compare it to the intraday chart for the SP500 there is significant drift between the two time series...

i am looking for something that matches the SP or Dow near perfectly...
More...

You cannot match it perfectly cause you cannot trade the Dow or S&P cash index directly you can only trade it through derivatives or ETFs. If these products do not track the indexes well enough for you then you need to learn more about them first.

So either use DIAs or options on DJX or DIAs or YM futures for Dow, or buy all 30 stocks :D.
 
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