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To: AllansAlias who wrote (50610)	8/19/2002 12:36:07 PM
From: augieboo	Respond to of 209892

One of the reasons I presume is the rise in weighting of the financials. They are everything for SPX now (20%) and I presume an increasing slice of the NASDAQ pie. I think that's the COMP side of the equation, but on the NDX side Smelly has been holding things down. "They" have been ramping the chit out of Bio to try to make up for it, but with limited success, because the Bios don't have as much weighting in the NDX as does the SOX. When the bios ran into that big time overhead resistance the other day, they had no choice but to start ramping Smelly, no matter what the cost or how illogical it is to do so, (e.g., SOX is ramping today in the face of sector CAPEX, orders, earnings, etc., downgrades by BofA and ??? -- somebody else). I know, I know, "they" can keep things going as long as "they" are willing to pay the price, but, only slightly longer term one has to wonder how long the COMP can go up when the drivers are the SOX & the Banks -- the largest remaining bloated pig in the markets, (SOX), and the nastiest cesspool of phony accounting techniques -- not to mention bad loans, derivatives problems, etc -- on the planet, (banks). augie p.s. Please forgive my slipping in a tiny bit of Fundy-mental-ism.