Monday, December 19, 2005


That elusive 11,000 level in the DJIA still is not in the cards so far this year, as we bump our heads on that cieling. Maybe the Holiday spirit(s) are making us too complacent as the I.I. survey reaches another high for the Bulls at 58.8 with the Bears at 21.6; While the AAII slipped a bit, the Market Vane Bulls remained at 70.The CBOE put/call ratio is down to 53, while the VIX touches 10 - the most complacent in a decade.
The McClellan Oscillator dropped down through the zero line (Bearish) to -21 - would like to see it reach the -50 level for a rally. The Bullish per cent is toppy at over 71The ISEE option call/put ratio ended the weekat 186, but rose on Monday to 233 (ouch)!
Odd-lot shorting does remain double last year even though earnings surprises and estimates are hugely positive for the week.Let's hope we at least get the Santa Claus rally between Xmas and New Year like we have for the past 8 out of 8 years!Happy Holidays to all!!!

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