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FWIW, here is a perspective on trend identification using the CBOE Put and
Call Trins. There are four states based on levels of the Trins.
Both above 1.0. Mixed trend
Both below 1.0. Mixed trend
Call trin above and put trin below = bearish
Call trin below and put trin above = bullish
These CBOE Trins tend to saturate when the broad mkt has strong trend and to
chop around when the trend is indecisive. They seem to be much more alive
than the NYSE TRIN.
BobR
Attachment Converted: "c:\eudora\attach\CBOETRIN2.gif"
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