Are bulls lurking in the market's wings? Maybe so.

On Friday, the put/call ratio jumped upwards to 1.20, with many bears likely thinking the employment report would disappoint and the market would tank. The employment report did disappoint, but the market didn't fall off a cliff...

Even though the media is touting 'recession' savvy investors know the economy could turn around in the third quarter. Hence, the reason sentiment - as witnessed through index stabilization - has changed.

The put/call ratio is sitting at 1 on Monday. Should the ratio continue to decline, the event would allude to even more bullish sentiment hitting the market.

Exit is everything.

Mark Whistler

4/7/08