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Strategies & Market Trends : MDA - Market Direction Analysis

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Dec 3 4:00 PM EST

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To: Les H who wrote (71666)	3/10/2001 6:02:29 PM
From: A.L. Reagan	Read Replies (1) of 99985

*re: Flat Earth Society* a.k.a. Ameritraders.** Les, have you ever noticed that it is somewhere between rare and never that on a weekly basis the Ameritrade index shows net sellers? For months on end, this crowd buys, and buys and buys. What does this mean? 1. Stuart and crew have found that "buy the dip" is truly the secret to ever-increasing wealth, and soon, at this buying rate, they will own all the stocks in the NASDAQ? 2. The index is dollar-weighted, thus as individual Ameritraders lose their ass, the sell proceeds are way less than the buys. 3. The AMTD indexers use hedonic pricing from some baseline index, meaning every share of CSCO bought today actually counts as three shares because that's its Ameritrade historical "index" value? 4. They don't ever bother issuing margin calls at Ameritrade? Or maybe "forced sells" don't count? Seriously, just wondering if anyone else has observed this anomoly. Makes me distrustful of the data's reliability.

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