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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (69296)	2/16/2001 10:25:13 AM
From: Wayners	Respond to of 99985

there isn't a single forward looking statement in the Trim Tabbs report--its all hindsight. Its worthless.

To: Les H who wrote (69296)	2/16/2001 11:00:37 AM
From: Les H	Read Replies (1) \| Respond to of 99985

The Stock Market Both the "normal" and "weighted" equity-only put-call ratios have turned upward, thus issuing sell signals. Moreover, our oscillator is hanging right on the brink of a sell signal as well. So, should we turn massively bearish here? Market breadth isn't really bad, and small cap stocks continue to perform okay. Well, there's one other indicator, and it's the most important one, so we'll let it dictate our strategy price! That is, if the markets break support, we'll go short in accordance with these sell signals. However, if the market can't break to new relative lows, then we'd have to consider these sell signals suspect. The levels that we're concerned with are mainly 680 for $OEX and/or 1305 for $SPX. Thus, if $OEX were to break down below 680, intraday, then we'd want to buy $OEX puts or bear put spreads. As for the other put-call ratios, the $OEX weighted ratio and the NASDAQ-100 ($NDX) weighted ratio are both on sell signals. Moreover, the breakdown of the "normal" equity-only ratio into its two component parts NYSE and NASD shows that both of those are on sell signals, too. About the only major broad market put-call ratios that haven't rolled over to sell signals yet are those of the S&P 500 futures options. optionstrategist.com