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

To: Tom Pulley who wrote (83399)	9/19/2002 8:17:37 AM
From: Cynic 2005	Read Replies (2) \| Respond to of 99985

<<Did you see the put/call today? Put/Call closed at 1.35 and the equity only put/call was about 1.17. These readings are about as bullish as they can get and indicative of a bottom, but some other key indicators I follow haven't indicated we've bottomed yet. It looks like we're getting close though. >> During the height of the bubble (circa Jan 2000) P/C ratio was in the low .20s. Delta hedging took the market to the Jan-March peaks (just my observation). Delta hedging could do the same trick on the downside. This may not have been possible in the initial or mid stages of decline. But very possible in the late stages. Why, by now many traders are gun-shy for any further declines. The prolonged slump should have wornout even some of the sophistcated traders.

To: Tom Pulley who wrote (83399)	9/19/2002 9:34:16 AM
From: bobby beara	Read Replies (1) \| Respond to of 99985

It looks like we're getting close though. <<< vtoreport.com the p/c moving averages made coincident bottoms with the 4/01 low, the 9/01 low and the little low in feb 02, however they gave a false buy signal in late june and turned down while the market continued to crash. so while we may be getting near a low, it's just one indicator. i used to have some bar charts of put/call $volume that impristine used to post during the mania of stocks like amzn, ask jeeves, jdsu etc., i'll see if I can dig one of those up, really out of whack, something of the inverse could be seen here. another missing element from the picture investech.com bear market bottoms of the last 30 years have coincided with screaming low consumer sentiment.