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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: que seria who wrote (4601)	11/10/2001 8:29:43 AM
From: ajtj99	Read Replies (2) \| Respond to of 99280

Que, I wouldn't read too much into the pre-market put/call ratio (the 9:00AM figure). I saw that also, and it looked goofy. Normally the volume is quite low at 9:00AM, and a couple of big positions could skew the ratio pretty good. 9:30 and 10:00 are more indicative of what's actually happening, IMO.

To: que seria who wrote (4601)	11/10/2001 11:13:06 AM
From: mishedlo	Read Replies (1) \| Respond to of 99280

Que. A PC ratio of 1.39 is quite high. Generally the market turns after a sustained period of P/C ratio close to .5. The lower the better. A prolonged period of .5 to .65 should do it. Now, before the turn we see a spike in puts and 1.39 is a huge spike in puts. Oddly enough this spike in puts today was accompanied by a drop in the VIX. This does not amke much sense either. The best I can come up with is the crooks hope to pin the market here for a few days. Plunging the VIX VXN so that the value of all options decreases. Calls close to the money and there are tons of them, will be worth less on a falling VIX. So many puts are so far out of the money it does not matter. The other explanation I have is a delay factor. We noticed this on OCT. The market kept plunging as long as there were put buyers out there. As soon as they lightened up, we reversed. Still a one day spike at the open to 1.39 is bothersome to me. I am hoping Zeev has some thoughts on this. stockcharts.com[l,a]daclyymy[pc13!c200!c50][vc60][iUc20!Lh14,3!Li14,3!Le12,26,9] VXN plunged the other day for a brief period. Here is a chart for the VIX. Testing and reversing off the 200EMA. stockcharts.com[l,a]daclyymy[pc13!c200!c50][vc60][iUc20!Lh14,3!Li14,3!Le12,26,9] I am hoping Zeev can comment on these charts and ideas. M