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Strategies & Market Trends : Ask DrBob

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To: stan_hughes who wrote (58689)	5/5/2002 11:31:26 AM
From: CookiePuss	Read Replies (2) of 100058

hey stan, one theory i have read that could explain the more extreme bearish readings in the bpndx is the biotech factor. the ndx was readjusted last fall and more biotech was added to the index. given the whipping biotech has been taking lately, this could explain the divergence between ndx and compq sentiment. i was just looking at the ndx sentiment lows that were hit right before significant bounces occured in February-March 2002, September-October 2001, March-April 2001 and the bpndx gave false signals of a market bottom in each time period. bpcompq gave cleaner signals of a bottom imo.

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