Despite the carnage, the corrected equity P/C ratio is only .69, lower than it was Monday (it was close to 1.00), Mosis is not yet buying puts with abandon. My map is still as described earlier, a hard hit early tomorrow, followed by a bounce but a close near even (plus minus 5). If that is the result for tomorrow, then I think most of Friday (after a morning possible G&C) will be down, and a strong possibility of a very nasty Monday.
Chainik: What you say is true with respect ot his market. However, this signal seems reliable and has worked in both bull and bear markets.
Re: " in the past you were very good at picking mini-bottoms in declining markets."
Hey, my top call on this market made in early September has proven to be about 10 points off. I am king of the top pickers for now <g>. Nobody can boast on this front except me...for now <g>.
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