Standard & Poors Tech Analyst - Arbeter, sees a 16% rise this summer, with April historically being the best month of the year, per Stock Trader's Almanac. Nota bene, the 9-1 Up/Down Volume factor twice recently.
Nasdaq short interest rose 12% last month to a record. Plenty of bricks abound in the Wall of Worry. One number I regard as suspect is the recent IBD Public to Specialist shorting almost doubling its old high to 12.4 - this may be a bad number, and one to shelve for awhile.
Here are the weeklies:
Mktsentiment. 3/30/2007......5Yr.HI........ LOW
DJIA ………. 12354...........12767...........7286
Nasdaq………. 2422............2515............1114
S&P500…….. 1421............1455............776
CBOE Equity put/call .72............87-5/04........46-1/03
VIX ………. 14.64..........44 9/02........10.0-11/06
ISEE-call/put ……. 94...........299-12/04.......68 - 3/9/07
(>200/Bearish)
McClel Osc……………0...............91-5/04.........(81)-5/04
McClelSum…………… 660..........1568-6/03.......(726)-5/04
Newsletter Surveys:
Inv.Intel -Bull:…..…. ..48.4...........62.9-12/04......35-6/06
Bear:………… 27.5 .........38.2-3/03.......16-6/03
AAII-Bull/Bear ……….43.9/33.1....n/a n/a
MarketVane Bulls…. 70......... 73..............24
Birinyi Blogger
Bull/Bear Poll …………30.3/30.3
Bullish%- ……….…71...............88 -2/04...... 46-8/04
*Insider corporate sellers 30:1
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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