Dumb/Smart Money Relative Put/Call Ratio
Dec
05
2020
Everything’s Great, And Everyone Knows It
The “Biden Bump” brushed away any lingering technical deficiencies in the stock market, but that happy state of affairs is reflected in extremely frothy-looking short-term sentiment indictors. We are riding the momentum to some extent, but with a lower base-level of exposure.
Feb
07
2020
Keep Some Powder Dry
We’ve discussed market analogies with the year 1999 at length, and will give it a rest for awhile—in part because parallels to the year 2000 have cropped up! In the first five weeks of 2020, the NASDAQ 100 has already outperformed the NYSE Composite by about 7%, while in the first five weeks of 2000 the spread was 8%.
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