Another interesting factoid in the contrary/sentiment realm is that the Long futures are nearly as high as before the last major decline - and Barron's opines that Oil could fall to the 20s before rallying again - observable, but not actionable, yet.
Last week Sentiment Indicators were again mixed - the CBOE put/call ratio said BUY at week's end (48 to 66); newsletter surveys, which come out early (Tues and Wed.) were complacent. Gold shorters continued to drop!! CEO Insider selling leapt from 24:1 up to 74 to 1. Typical during Income tax time. Finally, MMF (money markets) reversed on the decline from negative $19B to plus $17B.
Here are last week's numbers:
|New Hi's/Low's||Nasdaq h/l||274/130||395/168|
|COT:SPX w/w||large/small (net)k||10k/3k||11k/(56k)|
|off.&bd b/s.vs.||10% holder b/s||160:40||.160:30|
|US equity -ICI||Fund Flows||WeekDelay||(1.8B)|
|MMF flows||Change in $B||17B||(19B)|
|MargDebt- top (300M)||monthly||445B||Jan:|
|2-yr Tsy Yield: Inflation||0.60%||0.59%|
With record numbers of dollars coming out of Money Market Funds, mostly into the crowded trade of short term bonds, anyone who has a minimal knowledge of covered call options and/or an interest in hedging stock market exposure might want to check out: brentleonard.com for an alternative strategy that is low-risk as well as highly rewarding. For those of you wanting more details and actual trading results, a new book is available for $14.95 at Amazon.com: Zero (IN)Tolerance
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