Here are some things I happened upon this weekend -
- Short interest on NYSE was up 7% as of mid-June. This is on top of already record short levels.
- QQQQ near-the-money July puts has open interest over 970k , while the calls have about 250k OI
- The puts are trading at a premium and the calls are going for what they are worth
- McClellan Oscillators are very over sold
- TRIN and TRINQ very high last week
- Move could go as low as 1292 before a bounce
- Bounce may be significant or only a few percent and then back to over bought
Post Modified: July 2nd, 2008 at 11:59 pm
Tags: Market Internals · Market Outlook · McClellan IndexNo Comments
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