Friday, October 3, 2008

SELL SIGNAL still in place:

PutCall is down to 0.63 now from a peak above 3.00 today.

VIX is now lifting from 41.51 to 42.57 as volume comes into calls, signifying "CALL BUYING" on this wave in the last hour.

The market is awaiting the House Vote on the "Rescue Package" which may be announced as soon as 30 minutes (12:30PM EST).

Call buying is not bullish, nor was "put selling" earlier today. This is setting up for more downside in the DIA.

106.84 last DIA.

12:03PM

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