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Politics : Ask Michael Burke
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To: yard_man who wrote (76737)2/29/2000 2:02:00 PM
From: Don Lloyd  Read Replies (2) of 132070
 
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[[what happened to the SOX today? I'm in the POS now, but something don't feel right about this ]]

I believe that the SOX is price weighted, like the DOW. This effectively means that a point change in any of the component stocks produces an equal change in the index, independent of the price of the stock. With RMBS near 300, every one percent change in RMBS would produce 6X as much change in the SOX as a one percent change in a $50 component stock would (if there are any $50 stocks left).
This tends to mean that the SOX is all RMBS, all the time.

Regards, Don
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