Godfrey, last Friday I had the 7DMA of the CBOE only (ex. QQQ) PCR at 0.43, the 21DMA at 0.48, both two year records by a long way. These are extreme numbers, expiration on last Friday or not.
I can't follow the argument that the CBOE only data is meaningless, that is like saying that the NDX has no indicative power at all concerning the COMP because it is not the whole market. -ggg-
Culmus
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