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To: BGR who wrote (67795)10/11/1999 12:49:00 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 86076
 
sorry, the indices do NOT represent the average stock. the a/d line does and has been in a free fall collapse since April '98.
the indices are all weighted toward the big caps which are horrendously overvalued. according to the Fed's valuation model currently by 40%.
you will note that the broader based an index is, the worse it's performance. that's because of the bear market that's in full swing underneath the popular indices.