Bad News Bears

Today's action was not what the bears wanted to see. The second the market turned lower the put buyers came in. At a good top the first dip is usually met with call buying as everybody believes it is a buying opportunity. It seems this market might have to do some more work on the upside before the bears have their turn. Have a good night.

3 comments:

Market Owl said...

I didn't see that much put volume. The CBOE equity put/call ratio ended at 0.57.

Tsachy Mishal said...

They ended ok but look what happened at midday when the market started to go down. It is more obvious on the ISE.

http://www.ise.com/WebForm/viewPage.aspx?categoryId=126

Anonymous said...

The market is performing just like I stated it would. Further upside will be very limited, then a pullback. It should start this week and continue thru next week. good luck