Replies to post #146292 on Zeev's Turnips Patch-No Politics (ZEEV)

[qwave]

I say we stay at the same levels on Monday as today. Everyone agree?

[Joe Bob]

EDIT, I see 90K Dec 25s and 90K Jan04 30s, so equity puts may be very skewed. I can't get QQQ data from CBOE at the moment (it says "symbol not found"), so I don't know if both of these count in CBOE P/C data or not...

mish, some here have mentioned a large (90K) put order on the QQQs that is skewing the equity P/C, and that taking out QQQ options leaves a real equity P/C around .6. Haven't run the numbers myself...

BTW, I think you were the one I heard about WHT from, on your Motley Fool thread (back when lurking there was free). Thanks for that. <G>

[Bullwinkle]

The AG printing press creating many divergences. Fund inflows are contracting and we are rallying on overbought conditions, refi's and new loans are down and housing is up, manufacturing is down and GDP is up, debt is increasing and wages are not. I guess it must be the "expect the opposite thingie"... Things do not look good so they will be good?

[Alex G]

I gonna go out on a limb and boldly agree with qwave... I say we finish absolutely unchanged on all indexes on Monday... as for Tuesday, I agree you are totally correct, we either go lower or higher... another bold prediction I will make: Tuesday the indexes will NOT be unchanged... I gladly provide this info free of charge for everyone

[Zeev Hed]

Mish, we discussed earlier that a solid 190,000 of those puts were in the QQQ and in big chunk. Market Watcher even cited an interesting number for the "small" orders (1 to 10 contracts) P/C ratio to be under .55 or so (#msg-1377843). As for the lopsided P/C ratio (more than 2 to 1) on the S&P 500, I have stated many times that that I could not find any rational correlation between the P/C ratio and future market action.