>>>Don, i agree on the last comment. as for the high trin during a rally, i have no idea what to make of that. it is frankly bizarre.
here's an interesting article, which didn't make the papers in the US:
Message 13877287
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hb,
Thanks for the excellent article. It supports Russell's presumption that we are in a bear market, as well as the presumptions of a number of other articles posted by participants on this thread.
I tend to absorb data, then reach conclusions which would probably be better for LG's guts thread; however, I sense that there is increasing pessimism among participants in this thread (despite American Spirit who should refer to his post at 53815). There seems to be a significant case being made for a bear market.
To wit, I've been playing primarily puts on CSCO, which seems to reflect market moves more than most stocks, and I have been doing well. I jumped out today of the June 65's at 3 1/4 when the market seemed to indicate that it would go higher (CSCO was trading at 61 3/4 at the time). I'm sort of angry at myself for not transferring to calls, but I did not at the time trust the strength of the rally. Nevertheless, a large amount of stock supply showing on Level II was evident in CSCO at 65. If the CPI is strong tomorrow, the MM's may let the stock trade a bit higher, but I intend to buy more puts tomorrow near the opening. Bottom line is that the professionals are selling into these mini rallies, and I think all of us need to be aware of this. Watch and see what happens.
Regards,
Sam |
