Hi Bonnie; From what I found on the S&P it re-weights dynamically
on the market cap about every day base on a three day average,
or something like that. Any way it changes focus fairly fast,
if a certain sector takes off or gets hit.
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Here is the question I want to ask you, looking at Dr. Ed's stuff,
consumer spending is down..so just how is it that the retail
sector is blowing most other sectors away ? The huge run up in
retail sector stocks, don't jive with the fall off in consumer
spending.
What does the market wait on, the actual earnings reports to
catch up ? It looks that way, or oil stocks would have tanked
before now.
BTW if money is flowing into REITS, it must not be the mortgage type
man they are taking hit after hit.
biz.yahoo.com
I got hit twice with TMA , heavens CMO tanked 24% Friday,
INV took a hit, if they are mortgage related the narrow spreads,
lower interest and pre payments are chewing them up & spitting
them out..book value is dropping like a rock, they are trying to
switch to short term stuff and having to write off much of the
longer term at a loss. It's getting killed in that sector right now.
So if it's REITS it better not be the mortgage type ones.
About the time they restructure watch interest rates go back up.
I was tempted, to bottom fish untill I saw them restructuring their loans, no way I want into that mess, looks like they got caught on the
wrong side of the curve, and with this market will be on the
wrongside again in 6 to 9 months. I did bite on TMA, but got back
out and want no more.
Jim
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