Complacency increases with a lowering of Public/NYSE Specialist shorting, increasing AAII Bulls, the UBS Investor confidence rising over 100, and the VIX right at 10.
Please see below:
Mktsentiment. 2/2/2007......5Yr.HI........ LOW
DJIA ………. 12653nh...........12653...........7286
Nasdaq………. 2475............2502............1114
S&P500…….. 1448............1430............776
CBOE Equity put/call .62............87-5/04........46-1/03
VIX ………. 10.1.........44 9/02........10.0-11/06
ISEE-call/put ……. 97...........299-12/04.......82-4/02
(>200/Bearish)
McClel Osc.(+75/-100)……39...............91-5/04.........(81)-5/04
McClelSum.(+750/-1153nh) 789...........1568-6/03.......(726)-5/04
Newsletter Surveys:
Inv.Intel -Bull:…..…. ..53.3...........62.9-12/04......35-6/06
Bear:………… 21.1 .........38.2-3/03.......16-6/03
AAII-Bull/Bear …….46.3/30.5.....n/a n/a
MarketVane Bulls…. 70......... 73..............24
Birinyi Blogger
Bull/Bear Poll …………32.2/38.7
Bullish%- ………76...............88 -2/04...... 46-8/04
*Insider corporate sellers 39:1, up from 20:1 in Nov.
**UBS Confidence and Consumer Confidence Surveys at 5 year highs-103
***Schwab Daily Average Trades at 250k, same area as in 2000 (2002 was 140K).
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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