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

To: Giordano Bruno who wrote (8589)	3/21/1999 9:48:00 AM
From: donald sew	Read Replies (2) \| Respond to of 99985

jjsirius, >>>>> Through March 17, an astonishing 68.4 percent of the new net cash flow into equity funds has gone to large-capitalization index funds, according to Robert Adler, president of AMG Data Services, a data company in Arcata, Calif. In dollar terms, $13 billion of the $19 billion that flowed into equity funds was earmarked for large-cap index funds. During the same period last year, just 16.4 percent of total equity fund flows were into large-cap index funds, or $6.8 billion of the $41.3 billion total.<<<<<<<< If Im reading it correctly, for the same period last year, the inflows into all equity funds is less than half(41.3 BILLION last year and only 19 BILLION this year), and the large cap funds getting about double that of last year. Thats doesnt sound good. I constantly hear MARIA Bartiroma keep saying strong/huge inflows, but she is not telling the whole story by far. Seeya and thanks for the info

To: Giordano Bruno who wrote (8589)	3/21/1999 10:59:00 AM
From: umbro	Respond to of 99985

On the relative strength of the NDX vs. the S&P: Does anyone have a chart handy, or an online chart page, that plots the ratio of NDX vs. SPX? As we know, the multi-year trend has be benn that the hi-tech laiden NDX (MSFT, INTC, DELL, WCOM to name a few) has outperformed the S&P (and the S&P has been no slouch). However, starting in about Nov-98, the NDX went on a tear and significantly outperformed the S&P. Recently, as the market has been chopping sideways, the NDX backed off a bit on relative strength basis vs. the S&P. Seeing this in a chart form may give us a clue as to market direction, if you take the theory that the techs. lead the way up, they may lead the way down. I've been considering the merits of short QQQ's (NDX 100 SPDR's), and going long SPY's in some proportion, with the expectation that the NDX 100 tech. stocks cool off a bit, and the S&P 500 strengthens ... but I can't make a fundamental case for that except that the NDX has moved too far, on an RS basis. I guess Soros could help me out when he unwinds his NASDAQ 100 position that he reportedly took in Q4-98, but George just never writes me anymore to tell me when he's getting ready to make his next move. :)