snippets - 30/10/09, page-37

I posted that too quickly.

The change I referred to is simply the percentage change in the industry sector from the day before.

The changes were

Consumer Discretionary: -0.1%
Consumer Staples: -1.3%
Energy: +0.1%
Financials: -0.5%
Health: +0.3%
Industrials: 0.5%
Information Technology: -0.6%
Materials: -1.4%
Telecommunications: -2.0%
Utilities: -1.9%

Nothing fancy - just simple % change in the indices from the previous day.

The big negative changes in Telecommunications and Utilities are the things that caught my eye.

Add to that the fact that the 50 Leaders was down line-ball with the market (-0.6%) while the Small Ordinaries outperformed - down only -0.3%. Again, you have a risk/inclined bias to the figures rather than a risk/averse bias (which one would expect on a down day). And all that occurred on a day when the UpVol/DownVol ratio was so poor.

Weird.

Cheers
Red.