ISEE index: looks like the retail trade caught the bottom in this rally?

Good article, but I find it hard to believe the retail option traders pushed the index on 3/09/09 above the values on 12/29/08 and 8/28/08 which were right before massive sell offs.

It's possible the retail traders were buying massive amounts of calls over puts, but doesn't compute for me.

Seems like somehow the index methodology failed or some kind of market dislocation.

Quote from dandxg:

Pabst has an informative article on how to use this. Not sure if you have seen it. http://www.tradingmarkets.com/.site/stocks/commentary/editorialarticles/-77152.cfm
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