Fast Money Halftime Report was all bulls, they all agree that the market is going higher in the short term. Financials are also underperforming today. This only gives me more confidence that we'll selloff soon.
P.S. The CBOE equity put call ratio has gone down even further, from 0.49 to 0.45 on the last reading!
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7 comments:
LONG MORE EDZ @ 4.44
-OL DAWG
the putt call ratio has been below .8 for some time now.
Trin has been showing heavy distribution for many days now.
IC, how do you determine whether TRIN is showing distribution or accumalation?
From what i was taught is that the trin is a short term trading tool showing whether the volume is flowing into advancing or declining stocks. Anything above 1.3 denotes more selling anything below .8 more buying.
The past three days besides yesterday afternoon and today we have been below .8. Today is the first day of volume advancing into declining shares. I am assuming banks and financials.
Are you holding over the weekend?
I'm not really too comfortable about this.
But when I see the forest and not the trees I start feeling a little better.
I am going to be flat over the weekend. This market just keeps going up and I don't want to get run over.
Don't worry man. I'll do it in your place. Completely loaded up on the short side, and now I'm taking this for the Bear team.
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