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