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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (28185)	10/2/1999 2:22:00 PM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 99985

An index tracking stock is an IPO?? That's laughable. It's the old Merrill Lynch assets under management mindset. Stocks are like "Hotel California". "You can check out any time you like, but you can never leave!" Maybe the ASE will see the demand for this and come out with a real IIX or INX tracking stock. Merrill's spread is 3/8 as well (or twice the spread of the QQQ which is more expensive). I should have known that if Merrill cooked it up it was probably a joke. Check out the unorthodox way they weight the basket-- it's neither market cap weighted or evenly distributed like the DOW. And now you can't short it? Are there no shares to borrow, or is this regulated? It sounds like an inhouse mutual fund selling individual shares and tracking the price intraday. Matt