Hang on to your hats!

M

michaelscott

The ISEE sentiment # ended today unusually high, 166, and the put/call ratio is at .70. This means the spirit has turned bullish.

All of the large cap indexes are overbought especially the S&P100. The small/mid cap indexes are not so overbought, but scraping up against macro trend lines. The large cap variety have broken through the macro trend line.

Bullish spirit isnt a good thing two days before a fed meeting in my opinion. I would like the put/call ratio to be higher and the ISEE sentiment # to be lower. I believe that more puts will provide the market with more insurance.

There doesnt seem to be any pensiveness or guarded worried behavior before the fed meeting. This is a big negative in my mind. Id like to see a more guarded attitude coming into this fed meeting.
 
Quote from michaelscott:

The ISEE sentiment # ended today unusually high, 166, and the put/call ratio is at .70. This means the spirit has turned bullish.

All of the large cap indexes are overbought especially the S&P100. The small/mid cap indexes are not so overbought, but scraping up against macro trend lines. The large cap variety have broken through the macro trend line.

Bullish spirit isnt a good thing two days before a fed meeting in my opinion. I would like the put/call ratio to be higher and the ISEE sentiment # to be lower. I believe that more puts will provide the market with more insurance.

There doesnt seem to be any pensiveness or guarded worried behavior before the fed meeting. This is a big negative in my mind. Id like to see a more guarded attitude coming into this fed meeting.
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Dude, know one is afraid of the wimpy new Fed chairman, his nick name is gentle Ben he was appointed as an honorary stooge.

His voice quivers when he talks, wall street is already trying to bully him around with a made up sub prime crisis, pushing for a rate cut even as the market make new highs.
 
Quote from michaelscott:

The ISEE sentiment # ended today unusually high, 166, and the put/call ratio is at .70.
More...

Yes, that's making me queasy, also. Another indicator that I use that's pretty reliable turned bearish today. I don't think the market's going to tank. We could have a 3 -5 day pullback but, yeah, it makes me nervous about what the nitwits at the Fed will say on Wednesday.
 
Here we go folks. Im hoping that there will be a lot of fear out there today and the put/call skyrockets. The put/call is serving as a great indicator nowadays. Unusually low put/call ratio or high ISEE means that the market will turn down.

Its almost as if the only buyers of the market are the shorts.
 
Quote from michaelscott:

Here we go folks. Im hoping that there will be a lot of fear out there today and the put/call skyrockets. The put/call is serving as a great indicator nowadays. Unusually low put/call ratio or high ISEE means that the market will turn down.

Its almost as if the only buyers of the market are the shorts.
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Dont hang your hat on them their indicators.
 
I don't see much fear this morning. Buyout offer for AKS, HPQ raises guidance by 10%, gold down.

Another DJIA record after the Fed non-decision.
 
We will see how much fear in just an hour when I get the intraday put/call-ISEEs.

When they are running to buy puts, then you can smell the fear in the air;)

I sometimes wonder why people were not buying puts during 2000. You see the Nasdaq down more then 25% after an obvious bubble, so whats the next logical move? Buy the puts. The put/call ratios never were that high during 2000.
 
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