xjo wednesday, page-85

Hi WW,

"XJO can't have high volume without it being present somewhere within XTL"

Twenty Leaders is just twenty stocks.

XJO is 200 stocks.

Clearly XJO could have exceptional volume without it being present somewhere in XTL. (But perhaps I've misuunderstood your point?)

Turnover might be a different matter.

Volume in XDJ today was about 16.7% of the XAO.

None of those stocks is in the XTL.

Turnover, however, in the XDJ today was 10.2% of the XAO.

Small Ords comprises the bottom 200 stocks in the ASX300.

By definition none of those stocks is in the XTL.

Volume in the XTL today was about 104.5 million shares.

Volume in the Small Ords today was about 581 million shares. That's close to half today's volume on the XAO.

As I mentioned with XDJ - Turnover is a different matter. While Small Ords contributed to nearly half the XAO volume today, it contributed to less than 16% of the XAO turnover.



Redbacka.