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IDS World Markets Fri 17th December 04


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I don't see how companies can compete when staked up against a chinese worker who makes an average $1.06 per hour. Benefits?

 

Here's what health insurance costs where I work....

"The cost of the insurance increased from $4.20 per hour to $4.70 per hour. Annually the cost of insurance is $9,776 per employee. "

 

I have 37.50 for confluence support on QQQQ

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Welcome to SHANKVILLE...

 

 

PFE "broke out" above its 50 day mov avg yesterday, with nice volume. Textbook breakout. NOT. Fresh longs totally mauled today. Down 18 freakin percent

 

 

PLMO.... if I'm not mistaken, SHorty was short this piece of junk. If so, then I just have one word for you, Shorty: Maestro. Down 15% today.

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Guest bullseatshitndie

once again goes to show how f****g manipulated "markets" are. pfe, a dow stock, down 19%. index is up 19 pts, give me a break. jam, jam, jam the others

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once again goes to show how f****g manipulated "markets" are.  pfe, a dow stock, down 19%.  index is up 19 pts, give me a break.  jam, jam, jam the others

Thanks to the primitive arithmetic weighting of the Dow, Pfizer with a price in the 20s is among the five lowest-weighted stocks in the DJIA.

 

It means that as a Dow stock plunges to zero ... it stops affecting the index at all! :lol:

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The story behind today's gap, excerpted from Stooltrading. Some posts redacted.

 

Posted by: keyboardprospector Today, 09:25 AM

 

QUOTE(drstool @ Dec 17 2004, 09:24 AM)

what the hell is going on?

*

 

 

 

 

DOC, DOC, Wake Up!!!!

 

The QQQQ's go ex dividend today for .3786.

 

 

 

Posted by: keyboardprospector Today, 09:26 AM

 

And the SPY's 0.5679.....

 

 

 

Posted by: ROG Today, 09:29 AM

 

QUOTE(drstool @ Dec 17 2004, 09:25 AM)

rog- if you get a chance, could you 'splain?

*

 

 

 

Usually the spoo people pick a large cap stock to dump and a smaller stock to buy. Excess funds are then mindlessly plowed into the spoos. This time the rebalance involves buying larger cap stocks than ones being dumped. There is a net deficit of $6b on the rebalance.

 

Posted by: drstool Today, 09:30 AM

 

 

You're not serious? huh.gif This is tankage. ex div or otherwise. The div's are that big. 38 cents on the qqq? That's a 4% div.

 

Posted by: keyboardprospector Today, 09:33 AM

 

Well Duh, They gotta distribute the Microsoft Dividend........

 

Posted by: keyboardprospector Today, 09:36 AM

 

That'll screw up the charts for the first few hours.......

 

Posted by: keyboardprospector Today, 09:38 AM

 

Make sure to check out your quad puts. They have been revalued accordingly

 

Posted by: keyboardprospector Today, 09:39 AM

 

The DIA dividend is .1654

 

Posted by: drstool Today, 09:40 AM

 

OK, I didn't know that. It does cause distortion for sure.

 

Posted by: drstool Today, 09:41 AM

 

I wish you had told us yestiddy! I had no clue. laugh.gif laugh.gif laugh.gif

 

Posted by: drstool Today, 09:42 AM

 

Posted by: keyboardprospector Today, 09:43 AM

 

 

I didn't realize it until this morning when the Quads tanked without a drop in the Nas....... and I couldn't enter a trade on my old puts......

 

First excitement, Then Horror, Then WTF? Then understanding.....

 

By the way, didn't we have this conversation (realization) last quarter on the SPY?

 

Posted by: PyurAureo Today, 09:44 AM

 

QUOTE(keyboardprospector @ Dec 17 2004, 09:38 AM)

Make sure to check out your quad puts.  They have been revalued accordingly

*

 

 

Duly Noted ... Tanks (Grrrrr)

 

I see that now. I wasn't aware of this Dividend thing and while watching the QQQQs numbers this am and the NDX Futures it didn't make sense, Butt I'd thought I'd just gotten rich (well ... made a profit). Now, I see that I'm still in the muck and mire. I thought that something had to be out of whack but was ready to unload anyway. Now it looks like SOSDD.

What a Day to pick for Rebalance/Dividend/Etc

 

Posted by: drstool Today, 09:46 AM

 

spy now sells at a discount to cash without the div. weird.

Posted by: drstool Today, 09:46 AM

 

I can't get my mind around this at the moment.

 

Posted by: keyboardprospector Today, 09:47 AM

 

SPY and DIA overreacted. Lotta people got stopped out and don't know why...

Posted by: GregFokker Today, 09:49 AM

 

Sorry to be so pedestrian, but how does this work?

 

Posted by: keyboardprospector Today, 09:49 AM

 

By the way, don't worry about that dividend money hitting the street today, Today is ex div, Div paydate is Dec 31........

Posted by: Bearman Today, 09:50 AM

 

ETF's derivatives unknown trainwrecks ahead

 

Posted by: keyboardprospector Today, 09:53 AM

 

 

 

Once a quarter the ETF's (like SPY, QQQQ, etc) distribute the accumulated dividends payed by the stocks held in the ETF. The ETF value is based on the NAV of the fund plus accumulated dividends. When the Div is distributed, the ETF drops in value equal to the div. That's why the strike price on any options must be adjusted accordingly....

 

Posted by: drstool Today, 09:54 AM

 

They collected the MSFT div, and now they are distributing it, reducing the value of the Trust by a like amount.

Posted by: drstool Today, 09:55 AM

 

The thing I don't get is the change in the relationship between spy and spx. It's now at a discount. I guess because the spx was adjusted for the MSFT div when paid. SPY isn't adjusted. It just goes ex, like any stock.

Posted by: drstool Today, 09:56 AM

 

I would have to adjust the back data on the chart for consistency. This is not normally done for small dividends. Just larger distributions.

Posted by: drstool Today, 09:56 AM

 

WIth eSignal, there's no way to adjust anyway.

 

Posted by: drstool Today, 09:57 AM

 

So we just have to become accustomed to the new relationship.

Posted by: An Ant Today, 09:57 AM

 

 

That applies only to holders of ETFs.

Common holders already blew their money away.

 

Right ?

 

Posted by: drstool Today, 09:58 AM

 

Right. But this dividend is too small to have much impact anyway. It's not material, except as it relates to today's price gap.

Posted by: keyboardprospector Today, 09:59 AM

 

Yea, The MSFT div paydate was the jolt a couple of weeks back, and the ex div date before that.

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