I was listening to the fast money guys yesterday and they all said market goes lower today to probe interday lows etc. I've heard many, many talking heads explain that this is the start of something big. HOWEVER The put/call ratio is way too high. Closed at 1.7. I looked back all the way to 1996 and cant find one time it has ever been this high. The put/call ratio is telling me that sentiment is super bearish...more bearish then in anytime since 1996. The put/call ratio is a great contrarian indicator. When a market suddenly tanks like this, it creates a fabulous V-Bottom where the indexes start climbing higher making the shape of a V. Since no one will say it I will. I think we have a better than 75% chance for an old school V Bottom. That's right ALL 400 points back By Friday. Impossible? Let's see.