Wednesday, July 05, 2006

Quick Sentiment Check

Measures of investor anxiety are elevated today, coinciding with the market weakness.

The volatility indexes (VIX/VXN) are up sharply, spiking more than 10% intraday.

The CBOE put/call ratio has been above 1.0 all day, and is currently hitting 1.32.

This should help put a floor under today's selloff. I expect stocks to moderate their losses some into the close.
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