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It can give a feel sometimes. Lately I have become a fan of normalized
dollar weighted C/P ratios for the individual exchanges and also a composite
of them all. When the composite gets up near 0.7+ the mkt is near a high
and when it gets near 0.3- it is near a low. Like on Tuesday it hit 0.23
and today the mkt is acting like it wants to go up.
bobr
http://www.oextrader.com/sigma_trader
----- Original Message -----
From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, July 11, 2001 11:22 AM
Subject: Re: [RT] Re: WTH?
> Hi,
>
> I am not qualified but I will try. BobR is highly qualified.
>
> I trust you understand what TRIN is: Arms Index or Trader's Index.
>
> The chart is showing the TRIN of the CBOE puts and calls. The red line is
> the call TRIN. I have reversed Bob's color scheme without his prior
> knowledge or consent; in general green above 0.0 and rising with red below
> 0.0 and flat or declining is confirming a bullish OEX price move.
>
> Naturally it only works when it does and fails when it does, but it
catches
> inflections during the day. It can help you to smack your head at the end
of
> the day and exclaim something impermissable.
>
> It can confirm. It can diverge. It can be totally confusing to beginners
> like me. It is always interesting.
>
> Only the tongue in cheek part is tongue in cheek. I hope I have stimulated
> your interest.
>
>
> Michael: WL7BDN@xxxxxxxxxxxxx
>
>
>
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>
>
>
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>
>
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Attachment:
Description: "$C$P.gif"
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