Can someone shed some light on me to why NSDQ has been holding the Ask on Level II since yesterday's close????
There is something wrong with FAS, you are right. FAS went up with the DOW after the open, however after that, it stagnated despite the DOW's continuing climb. The other ETFs behaved properly.
Yeah, you've gotta wonder how remarks even get made. The only thing that can be said about ETF's vs indexes, is "in general" they will move up/down at the same time. However, this DOESN'T mean that when the DOW, SP, NAS make a higher high, that all the ETF's will be too. If financials are doing bad 'today' for whatever reason, they can be making a LH while the indexes are making a HH. It depends on which sector you're watching as to what the relationship is. Stocks however, don't track as close as ETF's. Tougher job.
Track Financial ETFs with other financial ETFs like XLF or even more specifically indexes. XBD - Broker-Dealers BKX - Banks
I made an accurate observation that FAS did not track the DOW moves as I would have expected. I shall adjust my strategy accordingly.