I am staying away from ER for a couple of days. Is there a consensus as to what the rebalancing does to the index? They are adding stocks and subtracting stocks from the index, right? This is done once a year. Does it happen at a particular time today? Since I don't know exactly what is happening, I stay out.
OH yeah, SLB, TYC, PCS, CCL - all good. $1.00 on SLB..... Whole office is "high fiving" - good to see everyone so happy. Don
So were those stocks added to the index? How much $$ is in Russell index funds or ETFs? Do those stocks go up in a down market because they need to be purchased by index funds? (Pretend you are explaining it to a 4 year old - thanks! )
Yeah, uh huh. Care to add any more non-committal banal comments before what you imply doesn't happen?
SLB certainly was a big surprise. i and many other traders around me didnt hit it hard or put MOC orders since we figured everyone and their grandmothers would try to play it too. overall, it was no where near as good as last year.