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Yesterday was rather interesting from the cboe trin perspective. The day
started out with the call and put trins in a bearish posture with the put
trin below 1.0 and the call trin above 1.0. The call trin peaked in the AM
and once it fell below 1.0 the OEX rallied 5 points. It wasn't sustaineable
as the Put trin didn't budge and remained below 1.0. The belief here is
that a real sustainable price trend occurs when these two trins flip flop
about the 1.0 line similar to the NYA Trin or Arms index.
BobR
Attachment Converted: "f:\eudora\attach\trins2.gif"
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