What are your thoughts on the $CPC on a weekly or monthly basis...hardly bullish at the moment IMO<<<<
Bert, my favorite option guy Larry McMillan looks not at the level of the p/c ratio, but the trend, and changes of trend.
bullish sentiment is the cause for people to buy, bearish sentiment is the cause for people to sell, at turning points when sentiment reaches extremes you have a contrarian event, on a LT basis the contrarian event is a rare single point, among a thousand points, contrarian thinking is a tough bet, you have to make a single point among a thousand points.
on the long term the 200dma of c-bo p/c ratio bottomed in spring 03 and bullish sentiment is on the rise, have we reached irrational exhuberance levels, or is bullish sentiment and the bullish trend on the rise?
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