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FWIW
The attached chart has the $C/$P ratios for all the exchanges plus a
total(red line). Going into the night of 4/17 all the ratios were drifting
downward below 1.0 while the OEX was making higher lows. Then on 4/18 they
jammed up to maximum optimism, contrary bearish and put a lid on much of an
advance on 4/19. The ratios running over 2.0 is a bit bearish. But as Bob
Carver at Market Clues says, the OEX $C/$P can run at elevated levels coming
off of a bottom. His ratio closed at 8.22 on 4/19 and 4.X on 4/18. Usually
two days over 2.0 provides some inducement for a pullback.
bobr
http://www.oextrader.com/sigma_trader
----- Original Message -----
From: "Robert Pisani" <pisani@xxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxx>
Sent: Thursday, April 19, 2001 12:58 PM
Subject: Greenspan's announcement
> I noticed some usual activity on my screen beginning a couple of minutes
> before the announcement. Did Greenspan announce than he would make an
> announcement and then proceed with it, or did the news come out in a
flash?
>
> _| _| _| _| _| _| _| _| _| _| _|_| _| _|
> _| pisani@xxxxxxxx
>
> _|
> _| _| _| _| _| _| _| _| _| _| _|_| _| _|
>
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Attachment:
Description: "$C$P.gif"
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