Cobra:Is higher $CPCI= bullishness for mkt? = counter indicator for MKT

oldpigwang

$CPCI, CBOE Options Index Put/Call Ratio. Put / call ratio is always  a counter indicator for MKT , The higher the put,  The more bullish the mkt is.
Just like ISEE: What Does ISEE Sentiment Indicator Mean?
A measure of investor sentiment in the market measured by looking at the number of opening long call options to opening long put options purchased
on the International Stock Exchange. The measure only considers the purchases of customers and does not include the purchases made by market makers,
as customers are thought to be the best measures of sentiment.
So the sentiment of the small investor, is a counter indicator for mkt bullishness/ bearishness,
That mean, the higher CPCI= bearsh sentiment of small investor= bullishness for MM& market.

Cobra

High CPCI is not bullish. Take a look at the CPCI chart I show you in my report.

oldpigwang

回复 2# Cobra


    理解不对。

Cobra

回复  Cobra


    理解不对。
oldpigwang 发表于 2010-9-13 10:41

    Whatever，你觉得bullish就bullish吧。反正我只看图，我并不在意背后的逻辑。我只能告诉你，CPCI是大户的操作，一般是正指。当然，你说大家都错了，你是对的，sure。

Cobra

ISEE和CPCI是totally两个不同的东西，你先把这两个搞清楚再说。CPC，CPCE，CPCI，ISEE，ISEE Equities Only Index，ISEE Indices & ETFs Only Index，这些都是不同的东西。

oldpigwang

回复 5# Cobra
提到ISEE是为了说明这些PURCHASE 都是指INVSESTOR 没有MM 在内。

CPCI 是INDEX  P/C  RATIO，  PＵＴ/CＡＬＬ 是 MKT  ＢＵＬＬＩＳＨＮＥＳＳ　的ＣＯＵＮＴＥＲ　ＩＮＤＩＴＯＲ。　
这就是为什么这几天Ｐ／Ｃ　越高，　股市越牛的原因。

Cobra

回复  Cobra
提到ISEE是为了说明这些PURCHASE 都是指INVSESTOR 没有MM 在内。

CPCI 是INDEX  P/C  RAT ...
oldpigwang 发表于 2010-9-13 10:55

    所以不要把ISEE和CPCI混为一谈。ISEE可能是反指，但是CPCI多半是正的。再说一遍，不管是正是反，你如何理解，你看最近的CPCI的图啊，我报告里不是show出来了吗？以图为准，我没看出来，CPCI很high，怎么个牛法。当然，你说，不合逻辑，sure，问题是我不关心这个。

oldpigwang

When cboe p/c reach above  0.8 or 1 , it is extreamly bullish for mkt, not matter index or equity p/c. This is a rule. CPCI/ index same.