ES -- DX/CL -- isee -- cboe put/call -- specialist/public short ratio -- trinq -- trin -- aaii bull ratio -- abx -- cmbx -- cdx -- vxo p&f -- SPX volatility curve -- VIX:VXO skew -- commodity screen -- cot -- conference board

Monday, March 10, 2008

 

margin call hell


the s&p tonight closed with just 3% of issues trading over their 10dma. three percent!

there are so few occurences of such a washed-out level since 1985 that i can list them all here:

march 5, 2007
july 23, 2002
october 27, 1997
august 23, 1990
october 16-26, 1987

ISEE sentiment is also abyssal now -- new dataset lows on the 5-, 10- 20- and 50-day average of the all securities figure. back-to-back days under 70 contributing to the new pessimism peak. either the options crowd is correctly forecasting disaster where they are usually a contrarian signal, or there is a turnaround in the offing.

look for a bounce, starting as soon as tomorrow. this may be margin call hell, but there is also truckloads of sideline cash sitting in treasuries and more liquid instruments.

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Regarding layout:

The sticker (I'm not sure what to call it), with "US Stock" comes up over text, interfering with reading.

 
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