This Correction Ain't Done Yet By Helene Meisler About this article: Sure, we got a "sell the news" day but we also got the standard routine down pat: The market opens lower, it finds some footing at support in the late morning, it attempts a rally, comes back down in the early afternoon and then ramps into the close. Now I would say that the pattern has created some complacency and anecdotally I feel it has, but the put/call ratio rose to 91% Wednesday. Interestingly enough, the last time we had the ratio this high was Dec. 31, and we did have quite a rally on the first day of the new year. But prior to that we had a reading in the 90% area on Dec. 16, Dec. 17 and Dec. 18. We were down Dec. 16 and Dec. 17; we didn't rally until Dec. 18. And the 10-day moving average of the put/call ratio is really hanging... To read the rest of this article and sign up for a FREE trial click here...

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