Although coming off a flat to down market last week, the bulls still dominate in the sentiment area: NASDAQ short interest is again in record territory; the CBOE put/call jumped higher last week to 69 from 60 (although the ISEE call/put also jumped on Friday - not a good sign).Now at 151 it needs to go to 200 to be bearish. Most others below remained the same, or backed off slightly.
Mktsentiment.blogspot 8/25/2006 4Yr.HI LOW
DJIA 11284 11577 7286
Nasdaq 2140 2243 1114
S&P500 1295 1325 776
CBOE Equity 69 87-5/04 46-1/03
put/call ratio
VIX 12.3 44-9/02 10.3-7/05
ISEE-call/put 151 299-12/04 82-4/02
(>200/Bearish)
McClel Osc.(+75/-100) 4 91-5/04 (81)-5/04
McClelSum.(+750/-1000)` 467 1568-6/03 (726)-5/04
Newsletter Surveys:
Inv.Intel -Bull:62/28 40.0 62.9-12/04 35-6/06
Bear:43.2/16.1--5yrs 34.7 38.2-3/03 16-6/03
AAII-Bull/Bear 39.4/37.4 n/a n/a
MarketVane Bulls 66 73 24
Barron's Panic/
Euphoric Master Idx -0.71 -0.24 4/06 -0.75 11/05
Bullish%- 54 88 -2/04 46-8/04
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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