PeakTrader.com

[administrator]

March 17, 2008

The S&P 100 (OEX/595.50) put/call, and open interest, ratios are bullish for the first time in more than a year! Meanwhile, the latest AAII sentiment poll is skewed bullishly. Listen to what Peter Eliades of Stock Market Cycles had to say about that:

“The report showed 43.3% bears and 31.1% bulls. Listen to this! The plurality of bears over bulls today, an apparently meager 12.2%, is huge on a relative basis. It is the highest plurality of bears over bulls since October 11th, 2002 (14.8%). But before that, you have to go back to January 6th, 1995, to find another plurality of bears over bulls greater than today's reading of 12.2%. For over 13 years, there has been such a pent-up and persistent bullishness among advisers that this is only the second plurality of bears over bulls over 12% in the past 13 years.”