john, you must have missed this chart i posted a few days ago.
decisionpoint.com
we is a long way from the october 99 lows, and i doubt the action of the last couple of days has moved it down there yet.
Damn you bubble heads, in a bear market people are buying more puts than calls, people are still buying at least twice as many calls as puts, sometimes three times on this decline.
i don't give a doody about index poots, i'm looking at equity put/calls, this is where you find the wrong way corrigan's at the extremes, they is buying too many calls as the nasdaq is dropping 37%.
one last thought before bearic von buggeroff signs off.
the nasdaq blow-off that started basically in august (thank you REGIS -g-) never had more than two or three declining days in a row, and now it is resolving itself in the same way, the bulls get 1, 2 3 days on the upside and baboom.
and on this decline, most analysts, most top timers, WSW elves, everybody and their brother is counting on a summer rally - ho ho ho. i need a ho -g-
i remain
bugger von bobanoff |
