Week ending 11-23-07: Could have been worse, take 2

NXTQ again the laggard among the major indexes; it did not close at the worse level of the week (under 137) but clearly a week where one could say the NXTQ was in a >10% correction off its highs. Why is the NXTQ performing barely on par with the Russell 2000/IWM?

The answer is usually in the five weighted leaders comprising almost 25% of the index - as they go, so goes the NXTQ - which have been more twitchy than the market:

Focus, 3% weight on the NXTQ index, down almost 10% for the week; that'll do ya.

Baidu, over 5% weight, down 6% for the week.

Hansen, under 3%, down 5%.

Shire: Over 6% weight, down about 1%

ASML, the largest element of the index at 7%, and the lone gainer of the group, not able to pull up the group, up about 1% for the week.

Does this mean a disproportionate pop up is coming for the NXTQ? Someday, an interesting study will be done contrasting the NXTQ to the QQQQ, when there is sufficient data to go on.