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GEN: Options P/C



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Has anyone done any research or is aware of any research on separating out
up and down volume from total volume when calculating put/call ratios.  A
quick glance seems to show that using total volume results in a grossly
misleading indicator and results in the imprecise timing value of the
ratio.  Using up and down dollar volume appears to also lend directional
bias. 

BobR