Monday, November 8, 2010


As with so many events in this "Recession", this weekend's TSAA mega-seminar has not yet sold out all the seats, so a continued "discounted" fee is available through Saturday - including TSAA membership for 2011. You can see details at

This exceptionally diverse technical symposium includes Greg Morris (long time partner of John Murphy/Stockcharts); Tim Knight - founder of website; Barbara Rockefeller - veteran currency trader; and Edwards/Magee editor and technician extraordinaire - Charles Bassetti. Plus lots of food during the all-day event on Saturday. You can email:

This QE2 rally is not dead yet, as shown by a record 770 new highs on the NYSE last week; but it is getting overcooked by a few Sentiment Indicators: the Bullish % is just under 80; the McClellan Summation Index just under 1,000. Newsletter Bears and CBOE put/call ratios have warned lately, but bounced back last week. Insider selling is still huge, although they were totally wrong last time they sold; money is still coming out of stock funds and Money Market funds.

Here are the numbers:

MktSentiment Last WeekPrev. Week 5 Yr HI 5 Yr LOW
S&P 500:122511831561683
CBOE Eq. put/call: 516196-10/0846-1/03
McClellan Osc:35(14)108(123)
McClellan Sum:9318591568(1514)
           Newsletter Surveys

AAII Bull:
AAII Bear:
US Equity-1 week lagn/a(.2B)
Money Market Flows(6.6B)24.6B

Baltic Dry Index:2600267811700663
Bullish %:
Insider Corporate Sellers:60:1104:1108:12.4:1

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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