its at 1.32 which is showing ridiculous pessimism....which is bullish for the market today. I know this run up seems insane but just remember last year's action, did it not seem the same way on the downside? ALWAYS RESPECT THE MARKET no matter what you think.
I won't chase the market here long but with the put/call ratio so high, it's saying that too many traders are fading this rally expecting profit taking today like I was....therefore I want nothing to do with the short side either...at least for the morning.
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