Replies to post #438770 on Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Giz- a Schwab broker just called my wife (joint account) and said she should buy back the underlying stock that she is now short (due to exercised in the money Nov puts) and "he would put the order in for it to exercise first thing Monday morning." He also advised her that markets "only go up" and, even though he's not a registered investment adviser, said he could put he in some aggressive growth stocks like Netflix that his friend also owns. I called back and spoke to a colleague of his and confirmed he is not licensed. I really should have his broker's license revoked but may just drop it. Amazing how this F*cks continue to pump this market....

[Zeev Hed]

Yes, the CBOE dropped back under .5, but it was expiry day, a lot of call in the money may have been closed, the ISEE , if I understand correctly counts only new open long positions in options (sans MM's and WS firms). Even that one gives often false readings on its like a close to 100 reading on 9/15, still a good month before the local bottom, or a reading of 242 on 10/24 a solid 100 Naz points below. The last excursion above 200 (and it did not close there) occurred with other sentiment indicators also signalling warning, but that resulted in only a 20 Naz point decline, and Frida, I took that bear suit off. I think this run will require a lot of extreme optimism to be halted.