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

To: bobby beara who wrote (76417)	5/2/2001 10:53:54 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 99985

Bobby, I am not sure, I see a lot of "exuberance" already and that without much progress in price (the Naz is just where it was two weeks ago after the first "launch" from its bottom April 4th). If you look at the equity P/C ratio it is under .48 now for few days. The trin on the Naz has bee excessively low as well. VXN is standing about three point from the low of 60 it set on January 31st (namely, the fear is gone). The sox and BTK are starting to show major signs of fatigue. And last, Haim's screen have been shouting exclusive (or almost exclusive) sells for few days now. How do you interpret the 6.4 or so P/C ratio on the Dow index? I have not tracked this one for long enough to make any use (or sense) of it, but last Friday it hit 7. It seems to always be quite heavy on the side of the puts (in recent times), even on the bottoms of March 22nd (Dow) and April 4th (Naz) it was a solid 2 or more. Any idea what have the extremes in that series been? Zeev