winds of change, page-75

Mong, Not from what I've seen. For example, below was the Dow Jones Market Talk this morning. I have found that on open BHP will trade close to the equivalent of the ADR's from the night before.. Where the stock actually trades at the close is another matter. That's why when London fell 6% a few nights ago we didn't follow, we actually traded closer to the ADR's. Anyway, I'll use this example for all of next week just to see how accurate it is. However, Dow Jones definitely uses the BHP ADR's as a prediction for the ASX 200's direction in the morning.

2331 GMT [Dow Jones] S&P/ASX 200 offshore leads bullish, with SPI futures up 39
points at 4985 as Wall Street closed higher in volatile trading. DJIA up 0.7% at
11229.02, S&P 500 up 0.7%, Nasdaq up 1.0%. Freddie Mac fell 22% and Fannie Mae fell
14% after Treasury Secretary Paulson said "financial institutions must be allowed to
fail". Elsewhere, Alcoa rose 9.7% on reports Chinese smelters will cut output by
5%-10% next month due to power shortages. Chevron rose 2.5% as Nymex crude rose US$5.60
to US$141.65 amid threat of increased violence in Nigeria. In positive sign for credit
crunch, Wall Street firms didn't borrow from Fed emergency lending program in past
week. Spot gold up US$18.15 at US$945.85. LME copper up 0.4%, zinc up 6.7%, aluminum up
3.1%, nickel up 1.9%. BHP Billiton ADRs at A$39.82 vs A$38.80 locally. S&P/ASX 200
last 4937.4. (DWR)