Wednesday, February 2, 2011

Market Update

The CBOE equity put/call ratio so far today is a super low 0.39. The bulls must be kicking themselves for not buying the dip last week. After all, high food prices had only caused massive riots in Egypt. Big deal. So, the bulls won't make that mistake again.

Meanwhile, in the real economy, profit margins are getting squeezed by commodity cost increases. Bernanke can "ease" all he wants but it isn't going to help profit margins or earnings multiples.


CP said...

P/C is now 0.45 intraday.

Will be interesting to see the AAII sentiment tonight.

whydibuy said...

Down 2 points. Is this the crash you bears were talking about? WOW, that was quite the plunge wasn't it, lol.

Market is looking good for my +20% call for '11.