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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?


To: Johnny Canuck who wrote (36975)5/9/2002 1:15:07 PM
From: Johnny Canuck  Read Replies (1) | Respond to of 69366
 
The resultant 0.568-put/call ratio has moved the 21-day moving average down to 0.692, it lowest level since April 17. The trendline has made a definite reversal lower and could bode positive for the near-term. But remember yesterday's market was an event driven rally from an extremely oversold position. No doubt a whole lot of short had to scramble to cover (by becoming unwitting buyers of their shorted shares).