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To: Gregory who wrote (7342)	5/4/2000 4:10:00 PM
From: RocketMan	Respond to of 8096

Similarly, when put/call ratio is too low, it is an indication of excessive bullishness in the market, which is usually bearish. That saved my butt during the early April selloff. The Naz had gone up all the previous week, and closed on a nice surge, but volume was anemic. Posts all weekend were bullish. The following Monday the put/call ratio was super low, and I hesitatingly decided to close out most of my calls. Good thing I did, as that was the week the market tanked. Problem is, if everyone is bullish and volume does not confirm the higher prices, maybe all the buyers have already bought.