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[OEXCHAOS]

Yesterday, I said I'd update on this:
http://www.traders-t...showtopic=66971

There were a ton of dip buyers among the least sophisticated and nobody was Beared up. Today, we don't get much help. There was some selling by the more sophisticated Dynamic players, but no real shorting or liquidating by the smaller Bulls.

Rydex Sentiment
We are beginning to like our recent approach to the data and will continue as we work on a more useful indicator for trading asset shifts. Rydex non-Dynamic Bull funds had $10MM of (net) outflows on a rally day which is Bullish, but pretty reasonable, too. The non-Dynamic Bear funds saw $7MM of (net) inflows. There's some Bearishness among the least sophisticated traders, but there is ample reason for them to be much more Bearish, too. The Dynamic funds surprisingly saw Bull fund (net) sells of $84MM (though this only partially reversed yesterday's buys) and saw small Bear fund purchases of $7MM. Looks like there's plenty of complacency. The RSO showed an $88MM Bearish asset shift on a nice rally. Ordinarily, this would be Bullish, but there was simply very little real shorting going on. I'm much more concerned about the ample BULLISH asset shifts on the huge down day Tuesday.