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Politics : High Tolerance Plasticity
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To: Warpfactor who wrote (19074)3/5/2003 6:11:19 PM
From: augieboo   of 23153
 
Warp, I think the key to Les's statement was in this part: A lot of preferreds and bond cef's were up and this one Less than two-thirds of NYSE total stocks (2100) traded pertains to actual common of companies. Message 18660087

I don't understand the part about preferreds and bond cef's but I think the point is that less than two thirds of the issues which make up the NYSE, and which therefore go into the TRIN, are common stocks. So on days when other types of issues diverge heavily from what the common stocks are doing, the TRIN gets out of whack.

Does that make sense?
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