Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

I think think the high PCR has as much to do with hedging as it does with being bearish. Many of us figure that the terrorist will something big before the election, so why not put on some defensive positions in place? I don't see the 'fear' in the market that should be a companion to a PCR of 1.0. I don't see donning the bull-cap over this.