Hi Mish; I was going to do a follow up with the SPX/OEX, as that is my Older Big Foot, and
how I came to compare the NDX 100 to the Nasdaq.
I'm glad you kicked it off..
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The big chart ( longer term one ) on StockCharts don't seem to let me get shorter term ones.
SOooo
finance.yahoo.com^spx&t=5d&l=off&z=m&q=l&p=e50,e10,e50,e20&a=fs,vm,w14,r5&c=^oex
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Shorter term there has been a struggle..and he OEX has gain some ground
the one yr chart showes how she jumped up at the start of the
up turn..
finance.yahoo.com^SPX&t=1y&l=off&z=m&q=l&p=e50,e10,e50,e20&a=fs,vm,w14,r5&c=^oex
For the most part she has been above the SPX in the last year.
finance.yahoo.com^SPX&t=3m&l=off&z=m&q=l&p=e50,e10,e50,e20&a=fs,vm,w14,r5&c=^oex
and the shorter term charts tend to set the tone I go by.
The OEX/SPX is not as clear as the NDX/nasdaq.. but I see an interesting twist.
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My Summery is this..
finance.yahoo.com
Note early August where the NDX was still going down, however the OEX was moving up.
That's rotation..
And I see some rotation even now, BIG FUNDS taking some profits from the
less liquid stocks and putting them into more liquid ones.
It takes a long time to move the more liquid stocks, but all in all
when the hi beta stocks climb enough there is always some rotation
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So I assume we will see more profit taking in the NDX with a slow
shift to the OEX. This rotation is normal but it also adds to expense
and if it happens to fast can get out of hand.
Right now it looks orderly..but I'm always cautious when I see
it. If it works the NDX will correct some and the OEX will
go up some. If it gets out of hand they will all start down
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Short term it don't look like I will go short just yet..
but I am getting ready just in case.
finance.yahoo.com^SPX&t=5d&l=off&z=m&q=l&p=e50,e50,e10,e50,e10,e50,e50,e10,e50,e20&a=fs,fs,vm,fs,vm,w14,fs,vm,w14,r5&c=^oex,^ndx,^IXIC |
