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Author: GrayWulff Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 169  
Subject: Re: "Done" Date: 8/1/1999 10:40 AM
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dealing,

I do currently have Rule Makers in DRIPS. My Waterhouse IRA and has both Rule Makers and Rule Breakers in it. I was considering the FF for my husband's Waterhouse IRA account.

Sounds like you've got it together.

Waterhouse is where we have our accounts too. They're pretty good, the S&P reports and the Zack's reports are very useful. Their Webbroker does seem to freeze up occasionally, but since I'm never in that much of a hurry, it doesn't bother me.

OK, so now tell me what "spiders" are, and don't say they are arachnids or some such thing.LOL

No, they are not creepy crawlies! Nasdaq-Amex has gone into competition with Vanguard. Strictly speaking "Spiders" refer to a type of depositary receipt that gives you ownership in the S&P500 stocks. Loosely, the term is also used to refer to depositary receipts that track other indexes (the Dow Jones Industrials, The Nasdaq 100, tecnology sector stocks, and others.)

They trade on the AMEX and are treated just like stocks. You pay a commission of $12 at Waterhouse. You can trade throughout the day, buy at the market, buy at limit prices, set stop loss orders, sell short, etc. Expense ratios are very similar to VFINX. Turnover is zero. Very convenient to hold in a Waterhouse account.

Here are a few of the common ones:


SPY S&P 500
DIA Dow Jones Industrials (30)
QQQ Nasdaq 100
XLK Technology Sector


There are discussion boards for all of these symbols. You might also drop by the INDEX FUNDS board. You can get a prospectus and lots of info from the Nasdaq-Amex web site:
http://options.nasdaq-amex.com/indexshares/index_shares_over.stm

Cheers!
GW
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