Tuesday, December 14, 2010

Pin Drops

It is quiet out there.  I don't see anything notable except that there is a lot of hedging volume with puts on the CBOE, a change from the last few days.  The CBOE equity put/call is still low.  Traders don't have a worry in the world and are in cruise control.  I think they are too comfortable here and it won't take much for things to get shaken.  The current state is definitely not in equilibrium.  Waiting for the drop anytime now. 

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