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Thought some of the RTers might like to see this perspective of today's cboe
trins and NYA issue and cumulative volume. Note how the put trin ran above
1.0 and the call trin ran below 1.0 on Tuesday, the opposite of Monday.
That indicated option issue and volume was reflecting an upward bias. The
NYA was laboring under a no trend condition with the ADV and DECL nip and
tuck all day. But around 11AM PT, or 2PM ET, the Moontide(which is nothing
more than Ben's cumulative volume with some special twists) began an upward
climb to a level above Monday's close/Tuesday's open. According to CV and
price theory it forecasts a higher price when CV makes a higher high. This
has the feel of the beginning of the end of month seasonality thing.
BobR
Attachment Converted: "f:\eudora\attach\Trins.gif"
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