Thursday, August 2, 2007

ISEE in the 70s for the Last 2+ Hours of Trading

On the heels of an already low ISEE of 85 yesterday, this is fairly strong bullish contrarian evidence that most do not believe the current bounce has legs. Naturally, this skepticism raises the likelihood that yesterday's low will hold up going forward.

For the record, the post-2/27 crowd was much more gun shy when it came to buying calls following that VIX spike than the current market participants are following a stretch of nine volatile and bearish trading days.


Anonymous said...

nice call. lol. i hope you covered your Vix shorts as well. DOH!

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