Tuesday, November 8, 2011

Intersection of Hell and High Water

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ES is at a crossroads.   It is actually coldest right before the dawn.   I used to ride a motorcycle to work, and when I used to go in early to get a good workout in before work (I would ride at around 4AM), it was way warmer than when I went in for normal work schedule (riding around 6AM).

And so it is with market turns,

This one is from Marketguy, an avid poster on Breakpointtrades, which is a paid service with a great blog, and no trolls.




Put call is moderately low, that would allow for a drop based on recent high levels.   However the longer term averages show the put call to not be exceptionally low, so I wouldn't place strong bets based on this.