Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: steve susko who wrote (2114)	7/7/1997 6:44:00 AM
From: William H Huebl	of 94695

Hi Mike, The put/call ratio is a contrary indicator at extremes. That is the standard one... it is bearish from a contrary standpoint right now. I use a call/put ratio... mainly because when I divide the number of open interest (OI) calls by the index (OI) puts, I get a number like 3, 4 and now 6. My theory is that when this figure gets really high, it means the MMs are willing to sell call contracts on stocks as they expect them to turn down and they are not willing to risk the downside (index put contracts). BWDIK Regards, Bill

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