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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

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Nov 7 4:00 PM EST

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To: Zeev Hed who wrote (61897)	11/5/2000 8:02:26 PM
From: Saulamanca	Read Replies (1) of 99985

Zeev, The 21-dma equity put/call ratio recently reached the second highest mark in 10 years with a reading of 0.645. The only other readings above 0.6 in the last decade were 0.69 on 9/18/98 and 0.64 on 10/14/98. ---------------------------------------------------------- As Stephen mentioned from Barrons: Put buyers have been out in force. Price Headley, who runs BigTrends.com, reports that the 10-day CBOE equity put/call ratio recently rose above 60%. This has happened on only four prior occasions since 1990 and each marked an important bottom. In 1991 and 1997, stocks turned up immediately. In 1998, two more months passed before a second signal was issued; then, ignition and lift-off. interactive.wsj.com Despair was in the air.<g> Jim

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