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CBOE Put-Call (Letter to the Editor)

 
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PostPosted: Thu Mar 16, 2006 6:07 pm    Post subject: CBOE Put-Call (Letter to the Editor) Reply with quote

Lou, the CBOE put-call ratio is the volume of puts
divided by the volume of calls, of all indices and
stocks. When SPX rose above 1,310, the CBOE put/call
fell to 0.20, which indicated extreme bullishness. So,
most felt the market would rise further. Of course,
the market soon fell, since it's a contrarian
indicator (of people's greed and fear). The CBOE
put-call closed at 0.32, which indicates a market top.
Everything seems to be pointing to a market top (also,
market breadth has been deteriorating). Arthur

> Hi Art
>
> What is up with the p/c ratio?
>
> Is there an error? Its so low it makes me wonder.
> What is precedent for this?
>
> I haven't read anyone talking about it, but that
> kind of lack of fear
> does not make me wanna be LONG THE MARKET!
>
> With a reading like that I'm playing it cool for
> awhile.
>
> Lou
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