BB: On the NDX or QQQ thread I do point out the internuts tend to
express the sentiment, and need to be watched, but as for what
pushes the NDX physically it's not them.
MSFT alone has enough
weight in taht particular index that a 1 pt move in her pushes
the index more that if ALL the internut stocks each move 5pts.
Also at this time it's not the internuts that have the index
jacked up, as a matter of fact the nuts have given up a lot of
points, and if the NDX depended on them it would be much
lower. It's true they are in the NDX mix ( but not AOL ) and for
the most part they just don't have the market cap all put
together tath AOL does.
Yhoo is the most powerful with it's 27B but still nothing
compared to AOL, and it may be a surprise to most, but all
the NDX internuts could vanish and it would'n take as much money out
of the market as most think. ( not counting CSCO as a NUT )
The drop in MSFT from her high has taken out 73.12B from the
market cap..and that alone is more than as if all the internuts
in the NDX had vanished.
Other than CSCO the NDX is now run up on chip stocks, and such
as FORE, ADBE, ADPT , INMX, SBUX ..and a few others, it's
not the nuts. But I must concede the nut's send a good market
signal, and it's likely if they keep going down the market will
follow, still they are not big enough cap wise to be a pimple on the
ass of MSFT INTC CSCO WCOM & DELL.
While the news pundits may have people thinking the market
depends on internuts..it's a joke, with all the wild speculation
they still make up a very very tiny tiny part of the overall market
cap.
Jim
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