On the negative side, the Panic/Euphoria once again popped its head above water (-0.30) at the -0.29 level - far from the Euphoria of +.60 since its recent revision. So anything above -0.3 can be hazardous, as with last August's extended decline.
For the last 5 months I have been testing both the SPX-mini and SPX Commitment of Traders for some sign of a "Tell", but have found nothing so far in this lackadaisical market. Using the change and cumulative numbers, all I found was that the SPX had a better correlation to a DJIA that rose 238 points from Christmas to now. Otherwise all were coincident, choppy reversals.
Newsletter surveys are showing a widening spread of more complacent bulls and fewer bears - not a happy sign.
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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