IT NEVER RAINS IN SOUTHERN CALIFORNIA - IT POURS !:

Back from vacation, where the weather was as volatile as the stock market, I was happy to see little damage to my DITM covered call strategy, made whole by today's rally. Although the VIX came off the 4 handle down to 36, the CBOE equity put/call ratio zoomed up to 74 - good for the market (as we saw today). NYSE new highs to lows were an incredible 33 to 1,296; 23/947 on the OTC. Both newsletter surveys - Inv.Intell. and AAII remained inverted, with more Bears. Insider selling to buying was a lowly 3:1 ratio. Money actually went into MMFs for the first time in a month; monthly data on ETFs showed money coming out of equity and international funds -level in bonds. The 2010 support level on the SPX (S&P500) held at 1100 -now trying to break resistance at 1200.

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	11103	10913	14093	6626
Nasdaq:	2479	2415	2861	1114
S&P 500:	1155	1131	1561	683
CBOE Eq. put/call:	74	72	96-10/08	46-1/03
VIX:	36	43	90	8.8
McClellan Osc:	9	na	108	(123)
McClellan Sum:	(386)	(na)	1568	(1514)
Newsletter Surveys
InvestorsIntel.Bull:	34.4	37.6	63	22.21
InvestorsIntel.Bear:	45.2	40.9	54.4	16
AAII Bull:	35.2	32.5	n/a	n/a
AAII Bear:	45.7	46.8	n/a	n/a
US Equity-1 week lag	n/a	(5.7B)
Money Market Flows	5.0B	(1.7B)
Baltic Dry Index:	2000	na	11700	663
Bullish %:	29	22	89	2
Insider Corporate Sellers:	3:1	na	235:1	2.4:1

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: 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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IT NEVER RAINS IN SOUTHERN CALIFORNIA - IT POURS !: