Extreme Call Buying

We are seeing extreme call buying this morning once again. Add to that record low levels of cash at fund managers and I think its safe to say that the level of complacency and fearlessness is high. For now it does not matter.

3 comments:

caveman said...

Why fight the tape?

Tsachy Mishal said...

I believe the tape would have turned today if not for the PFE/WYE announcement. No way to prove it but its what I think would have happened.

Tsachy Mishal said...

Because of PFE/WYE Im not fighting the tape for now. Might pharma longs are larger than my SPY short. Come next week i will fight.