I got a little luckly hitting the low today on SIL. The put/call ratio is bullish but that's a short-term indicator. My comments were regarding the investor mentality instead of a traders.
Put/call is not a reliable indicator. VIX data still shows high level of complacency. But Wade Cook says two down years and up we go, so who am I to quibble/
Actually I show the ratio at .618 which is pretty bullish. Through the close yesterday the open interest on calls are 46,520,328 contracts and puts are 28,761,400 contracts. But again, this is a very short term indicator and I wouldn't place much emphasis on this ratio unless you are swing trading at most. The purpose of my commentary was to possibly raise some awareness to possible hedging instruments (ie. metals) while we day/swing trade.
Interesting, different quote sources I presume. Use RT3 and it only briefly dipped into the .6 range at 9:50 EST, other than that it's been above .850 since about 10:30, and above .9 since about 11:30. But, yes, it's very short-term, and only somewhat reliable when it closes at an extreme.