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Strategies & Market Trends : News Links and Chart Links
SPXL 220.61-2.2%Dec 31 4:00 PM EST
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To: Terry Whitman who wrote (10592)6/7/2004 5:28:33 PM
From: Return to Sender  Read Replies (1) of 29607
 
We also have other indications that the NASDAQ (SMH) is overbought with too little pessimism (volatility indices stretching 10% below 10 day sma's) for too much more of an advance. Especially since this has been a light volume rally. One out of the ordinary reading is the unusually high put to call ratio which is extremely rare and very pessimistic and therefore supportive of this rally:

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