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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket.

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To: chartseer who wrote (990)7/17/1999 3:41:00 PM
From: James F. Hopkins  Read Replies (1) of 2103
 
HI Chart; I'm not up to speed on P&F but you sure have sparked my
interest. What little I have looked at seems to say it is an
excellent tool for an individual stock, as well as a broad index,
however applying it to the NDX via the % of bull, bear patterns
may "at times" give a false reading, as it's the way the index
is built, not just a small index;
40% of it is controlled by 5 stocks, making it more top heavy
than most indexes.
I wonder what you have just doing the top
20 ( market cap wise ) in that index ?
They account for 60% or more of the index, and I think
the other 80 are along for the ride.
Jim
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