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Strategies & Market Trends : Complacency Indexes

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To: bob wallace who wrote (1467)7/23/2002 8:54:30 AM
From: bob wallace  Read Replies (1) of 1487
 
ok - to follow up my own question, when the market falls AND the CI's fall, Jeff Cooper, who otherwise writes as if he is somking something, has this bit of wisdom this morning:

Unfortunately, Monday's put-to-call ratio went down even as the market declined, reflecting Wall Street's favorite new pastime -- catching falling daggers.

That's perhaps the best summation of this particular event that I have found. incidentally, according to my statistics, when an event like Monday occurs, there is an 88% chance that the index will fall, on average, a further 10% over the next 15 trading days..
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