To: Les H who wrote (1804 ) 4/22/2002 2:44:44 PM From: Les H Read Replies (1) | Respond to Despite the fact that the broad market averages have been declining for about a month, and the fact that equity-only put-call ratios are on sell signals, and the fact that volatility made a bottom, and the fact that market breadth keeps getting overbought, the bullish story receives a lot more "press" than the bearish story. In fact, this week's big rally on Tuesday was so gleefully greeted on CNBC that I'm surprised they weren't dancing on the set. By the way, who was it that was so anxious to buy that they couldn't do it surreptitiously buying into declines from bearish sellers -- rather that just splattering money all over the tape? They certainly can't be too happy with their prices. We haven't been wildly bearish, but have been buying put spreads on sell signals and generally refusing to chase things on the upside. This approach has worked fairly well, but I think we're at a more important crossroads now.optionstrategist.com
