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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.40-1.1%Dec 17 4:00 PM EST
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To: Haim R. Branisteanu who wrote (5034)1/30/1999 8:14:00 PM
From: Bonnie Bear  Read Replies (1) of 99985
 
Haim, all...over on MBurke's thread I posted the top 50 bloated pigs numbered according to market cap and grouped by sector. The top 50 have a market cap of 6.2T. There are four types of stocks...telecom-net-boxmakers; car-and-gasoline; drug-and-bathroom; and home-and-mortgage.
Half of the stocks are telecom-net-box companies.
When I went down to number 51-100 on the bloated big list, the market cap for those was 2.3 T..so nearly all the market cap is in the top 100 names for a total of 8.5 T -g-. In the 50-100 list, half of those were also telecom-net-boxmaker stocks.
It looks like the whole bunch doubled in the last three months...so at a international index market cap level at went from about 6T to 8T or 33B dollars per day for the last sixty trading days. MSFT, INTC, CSCO and Dell at #1,3,4, 17 in market cap have the most effect at 1T market cap. AOL would have effected MDY but the index was changed when it was removed.
At an index level, the nasdaq index was just reconstituted...good stocks were dumped and garbage stocks were added, you should look on the nas home page for this as it is quite interesting. -g-
IMHO the big players are playing MDY now...
here is the link
nasdaq.com
The problem with using an index for market direction analysis is that the composition of the indexes is constantly changing to window-dress them. They are glorified mutual funds with huge turnover.
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