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Strategies & Market Trends : Steve's Channelling Thread

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To: orkrious who wrote (15209)	4/30/2001 6:59:02 PM
From: Zeev Hed	Read Replies (4) of 30051

No Jay, the indices are played mostly by the large traders and professionals, what they call smart money, the equities are played by "mom and pop" speculators. I can easily see a major "jouse" buying few Dow stocks to "support" the price while buying puts on the dow index to protect that extra buying. I think that the sell off in the Dow this afternoon might very well have been the "houses" getting ready to "clean out". High P/C ratios in equities are quite bullish (and we had these close to 1.00 in the March 22nd to April 4th period), PC ratio in equities under .6 are bearish and at .41, IMHO, very bearish. Zeev

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