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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: GTC Trader who wrote (15137)	4/29/2001 8:32:34 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

GTC, sorry, I am short on time here, I'll just address your P/C ratio question. It is still well under 1 (around .6) overall, where the P/C ratio is huge recently is in the indices (Dow, S&P 500 etc.), this is were the professionals operate, and such huge ratio indicates very strong hedging activity to protect their folio against a decline. The fact that there is such a huge dichotomy between equities options activity and indices options activity is itself telling. The fact that VXN dropped by an unprecedented 10 (or very close to 10) points Friday, is actually ominous for the bulls, IMHO. The fear is gone. Zeev