Want another example of how emotional and minute-to-minute the market has become? On Monday I woke up to the futures down about 15 handles, and it was all "Henny Penny the sky is falling" commentary. About two hours into the trading day, the S&P 500 was almost 10 handles off the lows and everyone was excited because the index had "held."
We saw this play out in the put-call ratio as well. Early in the morning, the ratio was above 100%, but after the market rallied it dipped and kept on sinking until it finally closed at 84%. To put that in perspective, the put-call closed at 84% last Tuesday, making the readings on Monday and last Tuesday the lowest two since late April. There might have been fear in the early going, but a 10-handle rally took care of that....347 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.