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Non-Tech : QQQ - Nasdaq 100 Trust
QQQ 623.28+0.7%Nov 5 4:00 PM EST

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To: mistermj who wrote (621)8/5/2001 6:37:12 PM
From: Dan Duchardt   of 840
 
The market closes 15 minutes later for QQQ than for NDX. QQQ, NDX, and the Nasdaq futures track very closely during the day, but NDX reflects none of the after hours action caused by things like earnings releases. Futures stop trading stops at 4:15, and resumes at 4:45. QQQ continues trading until 8:00 in after hours. Changes for the following day are measured against the closing prices at 4:15 for the futures and QQQ.

The big difference in % gain on July 27 was caused by the "after hours" action on July 26. QQQ fell .57 from 41.67 to 41.10 (1.37%) as the futures fell 24 from 1683.50 to 1659.50 betwen 4:00 and 4:15, very close to the nominal 40:1 ratio between NDX and QQQ. On the morning of July 27, NDX opened nearly flat, while QQQ gapped up retracing the prior closing 15 min slide.

Dan
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