Phantasmix Stock Market Blog

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$SPXA50

Normally we’d short about here or very soon, right? Beware, this can be a repeat of the Apr-Jun 2007 period.
I’m in “buy the dip mode” at this time, not “short the spikes”.

$CPC

Taking a longer-term look at the put-to-call ratio chart, 1.5 years.
Interesting slope….. More and more call buyers.

Wow, a pretty extreme reading this morning. This can’t last! Way more calls being bought than puts.
This is a contrarian indicator, meaning — the market should drop from here.

Of course, it’s not very prudent to use just one indicator on its own, but $CPC has been pretty useful so far.