I just looked at the CBOE equity put call ratios, and its below 0.5. Despite the flat indices. Another low ratio! This can't sustain forever. Complacency is rampant. The jobs report was poor, and while it looks like its being ignored, it will matter by the close. I have initiated a short position and will add more as the day progresses. I expect selling to come in the final hours of the trading day.
Friday, January 8, 2010
Da Bear Suit
I just looked at the CBOE equity put call ratios, and its below 0.5. Despite the flat indices. Another low ratio! This can't sustain forever. Complacency is rampant. The jobs report was poor, and while it looks like its being ignored, it will matter by the close. I have initiated a short position and will add more as the day progresses. I expect selling to come in the final hours of the trading day.
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5 comments:
Targets?
Also the Trin reading is really high.
Target is close of day. I will reassess at the close, I still don't feel confident holding overnight short quite yet.
Agree Owl.. I am short as well and with bank acting the way it is we should see sell off this afternoon.
I have added further short exposure and will sit back and wait to see what the final 2 hours brings.
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