Monday, March 22, 2010


"We're not in Kansas anymore", nor is President Obama's (and my) pick for the NCAA tourney! Hope he does better with financing the healthcare bill.

Gurus Kudlow and Cramer of CNBC were sure that the passage of the bill would doom (not deem) the economy with taxes and costs, but so far this overbought market on steroids keeps inching higher on lighter Volume. A record $74B came out of MMFs last week ($250B YTD, but all went into bonds -short term, junk, etc. Not many indicators at extremes, although the I.I. Bears are dwindling down to a precious few at 21%; breadth, at least through Thursday, was strong -new highs vs. lows; but the McClellan Summation is getting a bit toppy, as is the Bullish %, or stocks on BUY signals.

Here are the numbers:

MktSentiment Last WeekPrev. Week 5 Yr HI 5 Yr LOW
S&P 500:115911501561683
CBOE Eq. put/call: 545096-10/0846-1/03
McClellan Osc:-151108-100
McClellan Sum:126411091568-1514
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AAII Bull:
AAII Bear:
Nova/Ursa Mutual Funds:0.660.62.20.56
US Equity-1 week lagn/a1.4B

Money Market Flows-74B-36.2B

ETF equity:Monthly TotalsJan.731BDec.777B

Baltic Dry Index:3379331611700663
Bullish %:
Insider Corporate Sellers:27:148:1108:12.4:1

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: 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 Zero (IN)Tolerance

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