as i write this, daily poll shows
%43 short vs %53 long
and
%57 bearish vs %28 bullish
does this mean people were actually bearish but couldnt short it enough while almost half of the bulls got sucked in since number of the longs %53 but only %28 of them bullish now?
now the real confusing thing is equity pc closed at 0.6 and spx p/c closed quite high
it could look like this in the morning ....
I'm not sure that there's much to gain from the long/short ratio. I looked at it pretty hard and I didn't think it was as useful as the fully committed data. Even then, it's important to remember that this site isn't peopled with idiots, yours truly excepted.
They/We get right pretty often and are quite nimble. You really need to see a serious lean to get a signal.
Of interest, I note that the DJX and SPX both showed big put buying but low $-weighted P/C's. I.e. dumb money buying calls, smart money buying puts in institutionally dominated indices.
I comment on that in this morning's ISA Daily.
Mark