Put to Call ratio hit extreme on Aug 21, 2009

From the chart above you can see that the Put to Call ratio hit an extreme low reading which hasn't been reached since before 1/2/08. The reading was 0.59 and it signals an immediate Sell signal. The last time it was this low was 12/21/07 and you remember what a bad year 2008 was in the stock market. The Dow was above 13,000 in Dec. 07 in case you forgot! Friday had concurrently the Dow reaching over 9,500, as I wrote in an earlier piece on Saturday. And the S&P 500 also went back up to 1020. These are all indicators this rally's surge has peaked. It is time to sell! If you own any of the Dow stocks, Monday would be a good day to unload them and get your profits and tuck them away in a safe place. If the markets continue to go up this week, the drop will be even sharper when it happens in my view. The market has been very frothy of late and it's the average guy who pays the ultimate price in this game, isn't it. Don't let it be you this time.