Further to this morning's ISEE Put to Call Ratio at Highest Level in 16 Weeks, the ISEE equities only call to put ratio finishes at 198 -- the highest close since May 16, 2008.
The last time this index had back to back closes this high was 12/28 and 12/31/07.
It is worth noting that the only other year for which the ISEE equity only data is broken out is 2006; that year also had some higher than normal readings on the last four trading days of the year.
Given the brief holiday track record of the ISEE, my suggestion is not to dismiss the ISEE equity only data out of hand, but to take it with a grain of salt.
The CBOE total put/call ratio from STOCKCHARTS is 0.95 - that doesn't correlate with your data. Could you explain this? Thanks. Stone
ReplyDeleteYup, large grain of salt. Kind of telling it read like that this time last year too.
ReplyDeleteAnon,
ReplyDeleteTwo major differences:
1) the ISE is a different source from the CBOE
2) I reference the "equity only" data while you are talking about the "total" ratio
Adam,
Maybe not so large of a grain. It turns out that Helene Meisler has expressed the same concern that I have about the P/C ratios -- and she also does not appear to be particularly concerned about a seasonality factor.
I'll keep a close eye on this one.
Cheers,
-Bill
In my previous article, Microwave Cooking Tips, I discussed some simple microwave techniques and tricks, such as baking, steaming, browning and frying. If you are someone who has a family, you most likely by now know they can be very frantic to get the youngsters ready for school. Now even though we rely on air conditioners to keep us cool these machines need to be cleaned every so often. There are plenty of areas where you can purchase spares elements for your dish washer whether on the shop and even online in which you would be able to locate a wide range of components. Dust is removed from the airstream by the bag, and normally a filtrate, before it passes through the fan.
ReplyDelete