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To: sergio who wrote (34802)	2/7/1998 2:29:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

Sergio, I really do not use the PUT/CALL ratio that much, and it appears that you are much more familiar with it than I am. You indicated that .7 is where you consider bullish; therefore then when the there are less than 7 PUTS to 10 CALLS, that could be the beginning of bearish sentiment. By using .7 as the boundary of bullish vs bearish, presume you have already compensated for the fact that under normal conditions , Calls normally outnumber PUTS. I just rechecked CPQ and the other biggies like INTC, MSFT, CSCO etc. CPQs CALL volume on Fri (4 most popular strike prices) was 12999, and the PUT volume(4 most popular) was 4811 which gives a P/C ratio of .37. Granted, that CPQ was the best case to show bearishness. Am I doing it correctly. Now what really confuses me is that over 1 you were ready to short. I thought that would be bullish. Seeya