Thursday, January 11, 2007

Investor Sentiment Check

Investor sentiment guages are mixed currently.

  • The CBOE put/call ratio is slightly below average at 0.69
  • The ISEE is about average at 145

I am surprised given the strength we have seen in growth stocks so far ytd, that there have been no ISEE readings near 200. Yesterday was the real shocker, as the ISEE traded well below 100 during the day, before finishing at the still low level of 103.

This, coupled with the fact that the COMP is just getting out of oversold territory, indicates that this rally could still have room to run before the COMP gets overbought.


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