ORCL hit some good numbers it seems, we are having a post-close pop.
Sometimes we need to pay attention to that little voice in our head that says "lookout". On Sunday, I mentioned the following:
I want to caution market bears one more time. Regardless of whether the markets "should" correct further, always take note of how many traders are leaning on the same side. Right now, it is becoming uncomfortably crowded on the bear side. We have had multiple days of ISEE readings below 100, indicating huge put buying (ISEE is calculated inversely to standard pc ratios). Investor Intelligence bear sentiment numbers are still relatively low, so we do not have enough bears yet to call a bottom, but a strong short covering rally could be right around the corner.
Indeed.
Sometimes we need to pay attention to that little voice in our head that says "lookout". On Sunday, I mentioned the following:
I want to caution market bears one more time. Regardless of whether the markets "should" correct further, always take note of how many traders are leaning on the same side. Right now, it is becoming uncomfortably crowded on the bear side. We have had multiple days of ISEE readings below 100, indicating huge put buying (ISEE is calculated inversely to standard pc ratios). Investor Intelligence bear sentiment numbers are still relatively low, so we do not have enough bears yet to call a bottom, but a strong short covering rally could be right around the corner.
Indeed.
This entry was posted
on Tuesday, March 20, 2007 at 3/20/2007 04:11:00 PM.
You can skip to the end and leave a response.
» Post a Comment