Too Much, Too Fast
To reiterate what I posted intraday Monday, folks had a major change of heart when the rally came: The put-call ratio slid to levels not seen in nearly two months. Last week, by contrast, it had registered above 100% for three days in a row, and it was above 90% the other days.
The total put-call ratio was at 75%, its lowest level since Oct. 2. The equity put-call was at its lowest since Oct. 8, coming in at 56%. I don't know about you, but I much preferred it when we had a day like Friday and the put-call ratio stayed high throughout the session. Such quick acceptance of a rally is not what fuels markets higher....347 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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