We finally had our bounce last week. But the volume was so-so at best. This week, Financials and Big Oil are under pressure with Precious Metals up. Today, we witnessed a large number of high Dollar-weighted Put/Call Ratios for major equity names. It was very broad-based. It reminds us of late last February before the Big Drop.
Longs should be very careful here till we get closer to the FED Meeting on Dec 11th.