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Now the gov't wants to put all the "Bad bank" assets into a separate account - isn't that what Enron did offshore a few years ago? Wouldn't it be better to let the gamblers take the hits? Every bailout sets a precedent for the future and encourages more risk-taking despite more clarity and regulation (which people do not follow in times of herdlike greed anyway).
So much for the January "Defect" - unless we have a super rally soon, the January barometer will prognosticate a down year for '09, which is one of the better than average years in the Decennial cycle (but watch out for 2010, the worst of the 10).
Last week was pretty forgetable in the sentiment area, with only Money Market outflows ($19B) the exception - first time in many months that these inflows reversed materially. Also notable was the Baltic Dry Index, the proxy for global economic health, which has turned up rather strongly lately.
Haletosis (bad breadth) was rampant for the 4 days and the Bullish Per Cent at 46 is still on a Sell signal.
Here are the sentiment numbers:
MktSentiment. 1/23/2009 Prev. Week.....5Yr.HI......LOW

DJIA …........……. 8077………..8281.………..14093............7286
Nasdaq……....…. 1477……… 1529…………2810.............1114
S&P500……......... 831……… 850………….1561………..776
CBOE Eq. put/call ……77………93………..79………..…96-10/08….....46-1/03

VIX ……...............…. 47………46…….…….79..-10/08bull….10.0-7/05 bear

McClellan Osc.....………-31…………-9……………..108-1/09 bear...(-100)-10/08bull
McClelSum……....….…143…………278……..…....1568-6/03.......-1514-10/08
Newsletter Surveys:
Inv.Intel -Bull:...…..…38.7…………43……….…63 (12/04bear)......22.2-10/08bull
Bear:………........… .... 36.7………..34.4……………..………… 54.4.10/08.......16-6/03
AAII-Bull/Bear ......……27.2/46.3……27.6/47.4…....……..n/a n/a
Market Vane - T-Bond..75………….76……………..91
Baltic Dry Index …...…980………….881…………………………………663
Bullish%- …….......…46sell……….50sell……………….…88 -2/04bear.....2-10/08bull
*Insider corporate sellers. 11:1……13:1…. ………..97………….2.4:1 (11/08)
Mutual Fund Inflows … .4B………… .5B
ETF InflowsL………......(5.1B)…………(4.2B)……
Money Market Inflows: (19B)……….17B… ………144B

www.mktsentiment.blogspot.com is a free weekly display of important contrary opinion statistics, with the disclosure that eventual fees may be paid to the author from readers clicking on the website and/or the small ad at the top of the column.

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