AI
Wednesday, June 04, 2008 5:37:33 PM
here is the chart I was speaking about on using spx option Put/Call ratio as a signal.
They are the most Bearish at tops and the most bullish at bottoms.
Typically it stays between 1.65 and 1.75.
We closed yesterday at 1.69.
I like following this, as it keeps me from being too bullish or too bearish at certain points.
I brought this up to AA, who does a great job at looking at larger time frames, because he was suggesting we could be starting a big 3 wave decline off of the 1406 top and IMO, based on the spx 500 options currently and when 1406 occurred, we were closer to a bullish signal then a bearish one.
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=24646328
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