Turnaround

We have seen the indices open down and reverse higher. In addition, we saw extreme put readings at the CBOE. This is typically a good sign for the remainder of the day. The ISE is not corroborating the extreme put buying. I would feel more confident if the put buying were occurring at both exchanges.

5 comments:

Anonymous said...

The VIX should be showing more fear given the horrid action of the market.

Tsachy Mishal said...

It would have been nice to see a spike.

Tsachy Mishal said...

If the CBOE equity closes the day where it is now, the 10 day moving average will be close to where it was after the Japanese nuclear disaster. Any thoughts?

Anonymous said...

I don't feel much urgency to the selling. Therefor think we have farther (and uglier) to go. I am almost flat though and would take a shot long if we got a quick spike down from here.

Tsachy Mishal said...

A scary spike lower would really seal the deal and make for a very good trade,  but I think there is still a decent trade now.