To: Yogizuna who wrote (41277 ) 7/1/1999 12:52:00 PM From: pater tenebrarum Read Replies (2) | Respond to
Yogi, o.k. btw, i am still grappling with the fact that so many technical indicators are now pointing to much higher prices, while the put/call ratios are at record lows. the individual equities ratio came in at 0,305 yesterday, which is the lowest *ever*. since individual equity calls are the speculative vehicle of choice for J6P, i'm asking myself if all the positive technical action will turn out to be a bull trap. otoh, it is normally very bullish when the market ignores bad news, starting with the INTC downgrades and now with the CPM figures yesterday and NAPM today and the resulting renewed weakness in the bond market.the new contract highs in crude oil and oil-based products seem barely worth a mention (which is telling me that they will probably go a lot higher - this is also suggested by the wave structure - wave three up seems to have started).
