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Here are two sentiment readings that may be pertinent at this time. See how
they work out today and next week. Both are saying that put buying time is
near. One is just the cboe ratio of equity calls and puts. The other is a
modified Hines ratio mentioned that uses volume and open interest. Their
use definitely plays a secondary role to the primary role of price action.
BobR
----- Original Message -----
From: <HARELSDB@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, November 18, 1999 10:06 PM
Subject: [realtraders] nasdaq {02}
> Pardon my ignorance, but, do sentiment numbers really give good primary
> signals? I tend to use price action and its derivatives to generate my
> primary signals and sentiment and breadth numbers as backup information to
> tell me that my analysis of the price action is probably correct or to
tell
> me to watch the price action especially carefully. What are the pros and
> cons of using sentiment numbers to generate primary trading signals?
>
> In a message dated 11/18/1999 5:41:44 PM Mountain Standard Time,
> Proffittak@xxxxxxx writes:
>
> << hello
>
>
> 20 days ago p/c ratio on above was 3/1
> 10 days ago as hi as 4 puts for every call
> today is FIRST day that it is 5200/5900
> a clear sell from an option trader
> trade well
> Ben >>
>
>
>
Attachment Converted: "c:\eudora\attach\Sentimnt1.gif"
Attachment Converted: "c:\eudora\attach\EquityCP.gif"
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