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Its values used to be around 500 - and now look:
Yahoo! Finance doesn't seem to have caught up:
Regards,
Vesselin
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#1
- Group: Guests
Posted 11 January 2003 - 08:37 PM
Aparently, while we weren't looking, something has changed dramatically with the way NYSE is computing the NYSE Composite Index. Did they execute a 10:1 reverse split or what?! Its values used to be around 500 - and now look:
Yahoo! Finance doesn't seem to have caught up:
Regards,
Vesselin
Its values used to be around 500 - and now look:Yahoo! Finance doesn't seem to have caught up:
Regards,
Vesselin
MultiQuote#2
- Group: Guests
Posted 11 January 2003 - 08:43 PM
Yep, they have "revised" it, so put it mildly - source. And we will be blessed with a new ETF to trade it - Mark will love this one.
OK, so the new way they are going to compute it does make more sense - but why did they have to make it jump so much in absolute value?! Couldn't they include a divisor by 10 in the formula somewhere, so that the values remain similar to the old ones? Do I have to mention explicitly that this "jump" screws up all sorts of technical analysis?!
Oh, well. Don't be surprised if one day the Nasty suddenly returns "back" to 5000+ values with a trick like this one... Dow 36000, here we come...
Regards,
Vesselin
OK, so the new way they are going to compute it does make more sense - but why did they have to make it jump so much in absolute value?! Couldn't they include a divisor by 10 in the formula somewhere, so that the values remain similar to the old ones? Do I have to mention explicitly that this "jump" screws up all sorts of technical analysis?!
Oh, well. Don't be surprised if one day the Nasty suddenly returns "back" to 5000+ values with a trick like this one... Dow 36000, here we come...
Regards,
Vesselin
#3
- Group: Guests
Posted 12 January 2003 - 01:56 PM
And here is the official article on the subject. So, they simply decided to use a base of 5,000 for the "new" index. Just like that. Despite that the index was trading at around 486 the previous day. What was wrong with chosing the more reasonable base of 500, you morons?!
Regards,
Vesselin
Regards,
Vesselin
#4
- Group: Guests
Posted 12 January 2003 - 04:34 PM
Gee, let's see now, if things are not working out the way you want them - just change the rules. Humm, why not try rebasing the DOW, Nasdaq and the S&P so they could have instant new market highs of 12,000 Dow, 6,000 Nasdaq and 1,600 S&P. See, no recession after all.
#7 Guest_BEARDRECH_*
Posted 12 January 2003 - 10:09 PM
if you want to see the next phase of outrage by the people towards the gameplaying frontrunning rule changing scum sucking powers-that-be see the article by hommel i referenced inLOB beardrech 
"THERE IS NOTHING MORE DANGEROUSLY POWERFUL THAN THE MORAL INDIGNATION OF THE (CHEATED) MIDDLE CLASS"
"
THings begin in mysticism and end in politics"
"THERE IS NOTHING MORE DANGEROUSLY POWERFUL THAN THE MORAL INDIGNATION OF THE (CHEATED) MIDDLE CLASS"
"
THings begin in mysticism and end in politics"
#8
anoscope 
- Master of Stock Proctology
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- Group: Members
- Posts: 1,875
- Joined: 16-June 02
Posted 12 January 2003 - 10:21 PM
50.00 etf would be a good 'base' amount. and if it drops in 1/2 it will still be holdable by funds. The funds can just layoff all their investment staff and buy/sell/short and option the etf by computer blackbox program. one stock how easy? Short on open of the new ETF? you bet after first hour of trading!
#9
Jorma
- Assistant Professor of Stock Proctology
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- Group: Members
- Posts: 3,272
- Joined: 17-March 02
Posted 12 January 2003 - 10:45 PM
Nobody much cares about their damn average so something had to be done. The answer? Marketing!!!
Marketing flack #1. What's wrong with this average?
Marketing flack #2. Well we did a survey and some focus groups and the number is too small. It's like 500. Now look at that Dow. It's 7000, something. Now that's a number. It has some bulk, some heft.
MKF#1. Hey, your right. Look at that S&P number. 900. We could kick that things ass. We need something like 10,000
MKF #2. Right you are but there's a hitch, those Dow boys said they might break our kneecaps if we did that. I'm thinking 5000.
Marketing flack #1. What's wrong with this average?
Marketing flack #2. Well we did a survey and some focus groups and the number is too small. It's like 500. Now look at that Dow. It's 7000, something. Now that's a number. It has some bulk, some heft.
MKF#1. Hey, your right. Look at that S&P number. 900. We could kick that things ass. We need something like 10,000
MKF #2. Right you are but there's a hitch, those Dow boys said they might break our kneecaps if we did that. I'm thinking 5000.
War is the last great hope of the incompetent to order the unwilling to attempt the impossible.
William Eastlake 'The Bamboo Bed'
Totalitarianism calls ideology, philosophy.
Change you can suspend your disbelief in.
Fafnir
William Eastlake 'The Bamboo Bed'
Totalitarianism calls ideology, philosophy.
Change you can suspend your disbelief in.
Fafnir
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