The 10day avg on the put/call ratios hit extremes last Friday,
creating a bear trap. A lot of people were praying for a rally that
would allow them to sell gracefully, well here it is and now
they have forgotten why they wanted to sell (possibly creating a
new bull trap?)
The VIX gave a buy signal early Monday. That means most
latecomers took risk off last week and now coming into quarter's
end there is a squeeze on, as funds will appear under-invested if
they don't add back. If the Greek vote goes okay, there should
be a gap up tomorrow, and traders will look to short that gap. My
two cents
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greek vote
Greek Confidence Vote is expected sometime around 5:00 pm EST The ...
Posted by PA on 21st of Jun 2011 at 12:04 pm
The 10day avg on the put/call ratios hit extremes last Friday, creating a bear trap. A lot of people were praying for a rally that would allow them to sell gracefully, well here it is and now they have forgotten why they wanted to sell (possibly creating a new bull trap?)
The VIX gave a buy signal early Monday. That means most latecomers took risk off last week and now coming into quarter's end there is a squeeze on, as funds will appear under-invested if they don't add back. If the Greek vote goes okay, there should be a gap up tomorrow, and traders will look to short that gap. My two cents