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To: sammaster who wrote (12438)8/21/2000 11:59:40 AM
From: AllansAlias  Read Replies (2) | Respond to of 436258
 
No. It does mean one should be very cautious about longs though.

I scratched my long. OEX rolled over, SOX rolled over and futures stayed up -- I got out.



To: sammaster who wrote (12438)8/21/2000 12:18:45 PM
From: pater tenebrarum  Respond to of 436258
 
not right away. all it is saying is that the complacency and bullish consensus are growing. but sometimes these measures can go to even bigger extremes before the market tops out. the p/c ratios have only begun to contract on Friday, and not all sub ratios (OEX for example) are that low. anyway, a few more days of rally should do it...