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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (24339)	1/10/2005 11:07:10 AM
From: russwinter	Respond to of 110194

Schaffer on put call ratio: Checking in on our all-exchange put/call volume ratio, the potentially bearish pattern continues as the ratio has not yielded in its move to higher readings. As it stands now, the ratio has moved from just above 0.50 to its current level of 0.57 since the beginning of December with little negative effect on the market. As I've been pointing out for the last few weeks, there are some similarities in this market's sentiment landscape to that seen in January 2004. The activity in our put/call ratio falls into this category as there was a significant uptrend in the ratio (from 0.41 to 0.53) before the market saw adverse activity. While the current market may be able to sustain the continued upward trend in this ratio in the short run, patience will run short (no pun intended) if market technicals begin to erode. Fed only replaces 8.5 billion expiring temp with 7.25 billion overnight, no perms as yet. ny.frb.org Still early in the day so they very well could be back with more. With the market up and USD off, it has that front running leaked to the Boyz look that there is more drip coming though. If not, this may just be a Hail Mary.