Stocks that track Nasdaq

Discussion in 'Trading' started by llljjj, Feb 26, 2002.

  1. llljjj


    Does anyone know which stocks track the Nas futures the best? The ones which have the highest correlation? I am looking for alternatives to trading the Futures and the QQQ's.

    I work at a prop firm and I not able to trade the futures. The QQQ's are my best alternative, except that I can only trade them via NYSE or AMEX from my firm's trading platform.....don't ask me why....which often makes it difficult to trade them. Any ideas would be appreciated. thanks
  2. AMAT would be near the top of my list

    Robert Tharp
  3. almost definitely CSCO
  4. a lot of high volume chips and biotechs - amat, klac, intc ..... bgen, amgn, pdli, hgsi .... also msft, csco, vrsn, vrts .... I am forgetting a bunch.

    The strongest stocks will lead as the futures set new highs and the weakest will lead with new lows. If you watch a new high/low ticker this will become obvious.

    hope this helps....
  5. Uptick beat me to it, but we use this site for this type of thing. Our "basket" traders (vs. qqq's etc.) modify their stocks about monthly (simply throwing out the "support/resistance breakouts" and brining in new "troughs").....
  6. flea


  7. Magna

    Magna Administrator

    I agree with Robert, AMAT would be near the top of my list, would also add MSFT as being a good "snapshot" of the market condition.
  8. llljjj


    Thanks for the help. I have been using klac/amat/msft/ as a nas trading proxy for the most part (or going off my insight machine for stocks making highs/lows) , but I know I should look for a more appropriate substitute.

    That topology chart is great. Thanks for all the suggestions.
    #10     Feb 26, 2002