CPC and CPCE Put/Call Ratios Daily Charts; Panic and Fear are Surprisingly on a Milk Carton

The market becomes weirder and weirder each day. It is not surprising since it is ran by weirdo's. With the 3-day bloodbath so far, wouldn't you think there would be panic and fear on Wall Street with people jumping from windows and screaming bloody murder? The tech indexes are in a correction (down more than 10%) already. TSLA, the glorified golf cart maker, dumps over -21% today, its largest one-day loss on record and comically a drop into a bear market in one day. Wouldn't that make any trader tremble with fear and angst? You would think that investors are hiding under the desk, wrapping themselves in an afghan while clutching a mug of hot cocoa. They hope that the bloodletting will stop and cannot take the worry and panic.

Well, none of that is happening. It is hilarious. Panic and fear are on a milk carton (missing). Instead of traders shaking in their Armani loafers with panic and fear, they have a laissez-faire attitude and are only concerned on when they will buy the dip. That's funny. There is no panic and fear.That means more selling is likely going forward. The stock market will not present a nice tradeable bottom until the CPC moves above 1.20 and the CPCE moves above 0.80.

The put/calls got out of whack. The uber low readings are multi-year lows so you knew a significant top was at hand. Today's carnage, however, results in a move lower in both charts. You would think CPC would have catapulted up through 1.20 and CPCE up through 0.80 no problemmo today, but they did not. The ratios both moved up on Thursday and Friday during those selloffs. Traders are trained after 11-plus years of global central banker money-printing, that the stock market will always recover and float higher. The Fed and other central bankers always protect the wealthy class that own the bulk of the stock market. Moral hazard is sitting on the living room sofa.

Last week saw one of the biggest inflows in history into the QQQ ETF (this is a long ETF that increases in value as tech stocks increase). Apologies, but Keystone has to laugh out loud. All of you idiots that did that stupid chasing of the tech bubble just had your head delivered on a platter. You were a bag holdin' sucka; the smart money took your money, go home kiddo and get some more money from Grandma's purse so you can play again. Shoot to Thrill, play to kill, fire at will, is a great theme song for today. Show no mercy. Off with their heads. Pull the trigger.

Today was Black Tuesday-ish. With traders and investors tripping over each other to buy the dip and no one taking the selloff seriously, there is likely a lot more pain ahead. If you want to reduce your risk at playing in these shark-infested waters, and you only like to play on the long side, use the charts above as your guide on when you will begin nibbling again. Angus, Malcolm and Brian sure could put on a show; so can the market. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.