Friday, May 14, 2004

In keeping with the gremlin invading our systems today, we're having difficulties posting the intraday charts.  Will post ASAP. 10:27:33 AM

As I noted in the "summary" on the site, the CBOE total put/call ratio has now closed above 1.0 for six straight days - the first such occurrence in history.  For a change, the large number was not due to QQQ options, which yesterday actually skewed the figure LOWER than it would have been otherwise.  You can see this by looking at the put/call ratio with QQQ options removed, shown on the site, which was very high yesterday.  As I noted in the last comment, I don't think this can be used as a precise timing indicator, but to me it suggests that we are close in time and price to a very tradable low. 9:54:46 AM