This Saturday the TSAA of San Francisco is presenting its Annual Seminar with the theme of Options, and some of the brightest stars in the field, including Jon Najarian (Dr. J), Tim Knight, Dan Sheridan, et.al. Over 100 are expected, due to membership discounts, great food, Continuing Educ. credits, etc.
More info can be found at tsaasf.org.
Markets seem to be blowing bubbles again with this constant liquidity - the Greenspan put vs. the Taylor Rule from the Fed. My personal guess is that the Obama gov't cut a deal with the big banks to give them their money if they promised no exogenous shocks to the market, usually occurring in Sept. Oct.
Sentiment would dictate that the dollar is way oversold (90% bears), inflows into ETFs such as Brazil (up 100%), and Gold (GLD has more physical gold than all but 4 of the Central Banks!). The UUP, which rises on a strong Dollar, has huge open interest and volume in Nov. and Dec.
Indicators are swinging wildly this week - the McClellan Oscillator came back from a deep minus 100 to -13; AAII Bulls are only 22% while the Bears are over 55%.
Finally, the Rydex Nova/Ursa ratio dropped 30 basis points from a Bearish 0.81 to .52
| MktSentiment | Last Week | Prev. Week | 5 Year HI | 5 Year LOW |
| DJIA: | 10023 | 9712 | 14093 | 6626 |
| Nasdaq: | 2112 | 2045 | 2126 | 1114 |
| S&P 500: | 1069 | 1036 | 1561 | 683 |
| CBOE Eq. put/call: | 67 | 66 | 96-10/08 | 46-1/03 |
| VIX: | 24.2 | 30.7 | 90 | 8.8 |
| McClellan Osc: | -13 | -100 | 108 | -100 |
| McClellan Sum: | 363 | 593 | 1568 | -1514 |
| Newsletter Surveys | ||||
Investors Intel. | ||||
Bull: | 48.3 | 48.3 | 63 | 22.21 |
Bear: | 24.7 | 22.5 | 54.4 | 16 |
AAII | ||||
Bull: | 22.2 | 33.7 | n/a | n/a |
Bear: | 55.6 | 42.3 | n/a | n/a |
| Nova/Ursa Mutual Funds: | 0.52 | 0.81 | 2.2 | 0.56 |
| Baltic Dry Index: | 3393 | 3013 | 11700 | 663 |
Bullish %: | 73 | 74 | 88 | 2 |
| Insider Corporate Sellers: | 14:1 | 24:1 | 108:1 | 2.4:1 |
| VIX Volatility: | -65 | -50 | 12 | -70 |
| VIX 1-month Future: | -59 | -45 | 2 | -59 |
| VIX 5-month Future: | -23 | -20 | 8 | -23 |
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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