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Rod,
The NOW Index is a proprietary indicator derived from option data. I
developed this during my initial years as a market maker at the CBOE in the
mid to latter 1970s. I named it after my CBOE acronym "NOW". It measures
market sentiment when it reaches an exteme historical level. It is a cousin
to the put - call ratio, but that is not it. The put - call ratio has a
major flaw that is not held by the NOW index. The last signal was a cluster
of signals beginning on the close of Friday, July 6 with 3 out of 4 days
generating a buy. Based on my cycles analysis and the Friday July 6 NOW
Index signal, I posted on July 7 that I expected a significant low in the
next 1-2 trading days, keeping in mind that July 11 - 12 was due to be a
significant cycle change point with S&P cash level of 1169 was due to be an
important price level. As we now know. the S&P 500 cash Index bottomed on
July 11 at 1168.26 and this level held for about two weeks. Usually signals
of the magnitude of the July 6 - July 11 cluster generates major turns which
can last for many months.
Cheers,
Norman Winski
----- Original Message -----
From: "J. Rodney Grisham" <grisham@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, July 25, 2001 8:04 AM
Subject: Re: [RT] ALTR, BBBY, CEFT & HDI
> "Norman Winski" <nwinski@xxxxxxxxxxxxxxx> wrote:
>
> > Those Naz stocks, being market leaders, can often be a little
> > early. My ol' dependable sentiment indicator, the NOW Index,
> > hasn't flashed a buy for this decline yet. You may be correct,
> > but my guess is that you may be one or two days early for the
> > broader market.
>
> What is the NOW index?
>
> Thanks,
>
> Rod
>
>
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