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Wednesday, August 18, 2010

08/18/2010 After Bell Quick Summary

The bottom line, the short-term trend is up, but I hold no long position overnight. On a little bit longer time frame, I still don’t think the market could go too far.

The very special thing today is somebody bought huge index put while retailers are buying huge amount of calls. As the result, the ISEE Equities Only Index readings is extremely high while the ISEE Indices & ETFs Only Index readings is extremely low.


What does this mean? Well, check the three links below and decide for yourself. Yes, the ISEE Equities Only Index is 256, very high, but still missing 4 points to be listed as extreme, but I think the essence of such kind of behavior should be similar.

  1. 6.1.9b Extreme ISEE Index Readings Watch
  2. 8.2.7a Record High ISEE Equities Only Index Readings 2006 – 2007
  3. 8.2.7b Record High ISEE Equities Only Index Readings 2010

I know someone would still like to know what happened when both VIX and SPX closed in green on the same day? Well, here’s the chart, not much edge as far as I can see.


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