Investor Sentiment Check
Investor anxiety is running above average today. The volatility indexes are up (VIX/VXN), and the ARMS Index is elevated as well.
As for the put/call ratios, the CBOE put/call has been running above 1.0 all afternoon.
The ISEE is the only one not confirming this, with an elevated reading of 181. It also touched 200 this morning for the first time in months.
Overall, the market is still hanging in okay. Energy stocks are under heavy selling pressure again as oil continues its recent plunge. It is now getting close to the $51 level. Investors are also likely jittery over the start of earnings season.
posted by J. Kahn @ 12:26 PM
3 comments
3 Comments:
I'm not sure I agree with your take that investors are jittery over earnings season. The 10-day MA of the Put/Call ratio is .83 and there hasn't been a close above 1 since Dec. 22. It seems to me like there may be spasms of jitters, but they calm down by the end of the day. Investors may be saying that they are worried, but they don't seem to be putting much money behind those convictions.
You have a point about the put/call ratios. Investors aren't running out to buy puts en masse. But I think on an individual stock basis, investors are jittery over earnings.
INTC is an example, and we will see what the reaction in AAPL and others are shortly.
"jittery over earnings" - LOL!
I would have to agree with that. It seems that investors either sell before earnings, or with one bad "breath" of negativity in earnings, the stock can get a hatchet job.
That said, once again, I will hold GOOG through earnings! :)
Keep up the great work you are doing here!
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