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October 11, 2005

Dow disconnect from SP500, Nasdaq, Tues., Oct. 11, 2005, 1:10 PM

The Dow is presently up +36 points, while the S&P 500 is flat and Nasdaq is down 10 to 11. How is that? Well, GM is up +2.24 pct on the day and IBM is up +3.36 pct. The rest of the Dow 30 components are largely uninteresting.

One thing I've noticed about IBM is that there seems to be an intra-market arbitrage going on. Overnight trading in Far East and European markets seem to be taking IBM higher, which has required the upside gap at the open in NY. Either that, or IBM is under heavy promotion for some reason.

Posted by Posted by Bill Cara on October 11, 2005 01:12:22 PM | Category: U.S. Dow 30