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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 147.44-0.6%Nov 17 3:59 PM EST
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To: rsie who wrote (8334)4/14/2000 9:26:00 PM
From: Q.  Read Replies (2) of 10921
 
Two sentiment indicators that predict a short-term bottom in the market:

As of the close today:

* VIX, the volatility indicator based on premiums on OEX options, has exceeded its recent highs by a wide margin; this is usually a good indicator that you are near a short-term bottom.

* The CBOE equity put/call ratio has climbed nearly to unity, a level that generally occurs only near the bottom of a deep plunge.

I don't have a lot of respect for most TA, but timing bottoms is the one thing that TA tools are good at. Right now theyt look pretty similar to how they looked within a week or so of the bottom in the Sept-Oct 1998 correction.
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