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.
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.