Another DJ report today:
"The ratio of equity puts traded to calls spiked for a second day in a row - normally a sign of bearish sentiment that contrarians interpret as a bullish signal. But the reading was skewed, as it was Monday, by a huge spread trade involving long-term puts in the QQQ, or Nasdaq 100 Tracking Stock, that will expire 2005. At the Philadelphia Stock Exchange, an institution sold 105,000 contracts of the QQQ January 2005 55 puts while buying the same number of January 2005 45 puts."
Glad I knew about that skewing yesterday and today, as I held most of my puts and shorts, rather than getting scared out of them...
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