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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (27777)	1/13/2002 2:22:29 PM
From: Shack	Read Replies (1) \| Respond to of 209892

If one does buy into P/C ratios meaning anything, I don't think conditions are right for a squeeze yet. I have been toying with a simple indicator. I look at an hourly chart of the P/C ratio (just stocks). and examine the 10 period SMA. When that MA gets above .65, we tend to launch up shortly thereafter, more often than not the launch is severe. That MA is at .58 and is rising off a low set mid-day on Jan 10. Jan 2, Dec 20, Dec 14, early morning Dec 12, late Dec 3 are the last few times this indicator went above and each time was followed by a ramp. This is a very short-term indicator but that is what we are talking here. As you know I am looking for down Monday. I am not sure if that corrective up which began late Friday is done as of yet however.