The October Surprise continues to defy traditional October selloffs (word is many funds did it early this year); and so the rubber band stretches further. NYSE new his/lows were outrageous at 650 to 24, with the NAZ a weaker copy; the McClellan Summation also pushes the envelope at 935.
Also nearing optimal levels are the AAII and Invest.Intell. surveys (see below), and the Bullish per cent.Here is the Matrix:
Mktsentiment.blogspot 10/20/2006......5Yr.HI........ LOW
DJIA.................................. 12002...........11577...........7286
Nasdaq.................................. 2342............2243............1114
S&P500............................. 1368............1325............776
CBOE Equity
ratio ...................................60.............87-5/04........46-1/03
VIX ................................10.63.........44 9/02........10.3-7/05
ISEE-call/put ................. 146...........299-12/04.......82-4/02(>200/Bearish)
McClel Osc.(+75/-100) ...9...............91-5/04.........(81)-5/04
McClelSum.(+750/-1000) 935............1568-6/03.......(726)-5/04
Newsletter Surveys:
Inv.Intel -Bull:................... 52.2...........62.9-12/04......35-6/06
Bear:................................ 30.........38.2-3/03.......16-6/03
AAII-Bull/Bear 54.2/29.8.....n/a n/a
MarketVane Bulls 72......... 73..............24
Barron's Panic/Euphoric -0.65........-0.24 4/06.....-0.75 11/05
Bullish%- ........................ 72...............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
Subscribe in a reader
No comments:
Post a Comment