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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (68652)	5/17/2002 11:55:18 AM
From: DaveMG	Respond to of 99280

QQQ's don't have the same supply/demand characteristics as stocks, and looking at QQQ volume isn't the same as index volume either. One could have record index volume and mediocre QQQ volume and/or vice versa, so I wonder whether there's any real "directional" significance. If you look at the NDX on the same day (which is what QQQ's are based on of course) adv volume/decl volume of 10:6, and advancers/decliners of 96:4. And we also don't know in what way QQQ trading really represents investor sentiment, in other words, who is using them and for what purpose? Speculating, hedging, investment. I remember in the first big selloff of the NAS Bear buying QQQ puts and they were very thinly traded at the time,which is not the case now, and the QQQ certainly wasn't the vehicle that it's become.. BWDIK....Dave