[RT] Re: no evidence for lower NASDAQ yet

["BobR" <bobrabcd@xxxxxxxxxxxxx>]

This P/C evidence comes from Lawrence G. 
Mcmillan.....maybe a bit of evidence is beginning to appear....
 
bobr


  Date Posted: May 25, 2001 at 21:35:38Subject: Put Call Ratio
  
  
  <IMG 
  src="http://www.worldlyinvestor.com/image_library/BigLarry0525.gif";>
  Update from Lawrence G. McMillan this morning: 
  "The equity-only put-call ratios have continued to decline at a fairly 
  rapid pace. That is typical action during a bullish market phase. Now they are 
  slowing their rate of descent and are lower on their charts. This could easily 
  be the precursor to a "sell" signal. Specifically, a "sell" signal will occur 
  when the ratio bottoms and begins to rise. 
  The "normal" equity-only chart as well as the weighted chart and the 
  breakdown into NYSE and Nasdaq stocks have all begun going sideways. The 
  weighted chart is shown in Figure 1. They would generate "sell" signals if 
  they move up very little from these levels. The only way they could remain on 
  "buy" signals would be for some low daily put-call ratios to arise soon and 
  push them lower. 
  At this time, though, they have not yet confirmed any "sell" signals. Other 
  ratios have begun to generate "sell" signals, though. These include the 
  S&P 100 Index ($OEX) weighted ratio, the S&P 500 futures "normal" 
  ratio, the Nasdaq 100 Trust (QQQ) weighted ratio, and the NASDAQ-100 ($NDX) 
  weighted ratio. None of these are considered to be as trustworthy as the 
  equity-only ratios, so we would not take bearish positions based only on these 
  lesser ratios. " 
  






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