EDIT at the bottom; The difference is that the QQQ was hit with a panic sell
after hours last night..So today it bounced back strong
while the NDX was in effect anchored to yesterdays close
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The move on the QQQ was while the market ( or at least the figures for the NDX index was frozen ) but
if you noticed today it did stay very close to 1/40 of the index once the index was moving.
It's just a matter of where the tapes closed out the index
actually if the index could have run during the panic selling last night and early this morning
it would have dropped down like the QQQ and then also showed
a gain for today, it's an arbitrary matter of when one is
called open in respect to the other one..but rule of
thumb is if you can track the stocks, hence the index
after hours is to divide the index by 40 to get the
QQQ, most money managers can do this and the QQQ didn't
get off very far, it just looked that way.
Tonight she closed at a slight premium, fair value would
be 92.5295, so some one thinks we are going up on the open
I haven't checked after hrs tonight so far as I've been
busy..so I don't know at this time if we will head on
up on the open , it's very likely we will.
BUT we must follow through most of the day, and that could
be tough..the indexes covered up a lot of lost money today
as they are rigged to make the market look better than
it is..the huge volume in INTC with it's 20% down side
made a lot of dollars disappear into money heaven..
It's just GONE with the wind. & No body got it..
over 300,000,000 X $14 dollars just vanished just with
intels sell off..I mean VANISHED..thats the under
belly of this market.
that's not right either intc traded 10 times her normal
volume, BUT 300,000,000 shares is just about 1% of her
float..so 99% of the shares that didn't get sold
lost over 20% of their value..
something like over 70 Billion in market cap vanished
just with intel, it will take a lot of inflows from
When a bellweather takes a huge hit, a lot of portfollios
just drop in an instant..that big of hit is a mighty bad sign being it's on "one" of the largest held stocks in the
market..
funds to put that much back in
The Market is really just an sophisticated ponzi scam,
but it's not in the self interest of the brokers, or
the SEC or even the so called news media to point taht out.
Jim |
