The year-end rally has begun, according to various cycles, but could become sticky around the current level (Jan., Mar., and Jun. lows/Support).
Last week imitated the new PBS TV program Red/Green on my charts - a rarity in Volatility. Disappointing was that the Nasdaq (which indicates Bullish speculation) did not rise along with the DJ and SPX. Its New Highs/Lows also remain negative as well.
Although the McClellan Summation made its first positive reading since last July ( positive breakthrough), the Oscillator remains overbought at +69. Another interesting number is the Insider Selling of Key Officers - it has jumped from a record low of 3:1, two weeks ago, through 30:1 to 60:1. Early Christmas shopping?
AND NOW FOR A COMMERCIAL:
Readers who follow my 3-year testing of my Optimal DITM covered call strategy on http://ditmcalls.blogspot.com are advised that after 25 years of managing substantial family money (3 with DITM), I have decided to take on a few clients (under the SEC minimum), since although DITM seems like a simple strategy, people have asked me at various lectures and booksignings to manage it for them. More details are available at the blog or brentleonard59@gmail.com if interested.
Here are the numbers from last week:
| MktSentiment | Last Week | Prev. Week | 5 Yr HI | 5 Yr LOW |
| DJIA: | 11808 | 11644 | 14093 | 6626 |
| Nasdaq: | 2637 | 2667 | 2861 | 1114 |
| S&P 500: | 1238 | 1224 | 1561 | 683 |
| CBOE Eq. put/call: | 64 | 66 | 96-10/08 | 46-1/03 |
| VIX: | 31.3 | 28 | 90 | 8.8 |
| McClellan Osc: | 69 | 80 | 108 | (123) |
| McClellan Sum: | 173 | (74) | 1568 | (1514) |
| Newsletter Surveys | ||||
InvestorsIntel.Bull: | 35.8 | 34.4 | 63 | 22.21 |
InvestorsIntel.Bear: | 41.0 | 46.3 | 54.4 | 16 |
AAII Bull: | 36.0 | 39.8 | n/a | n/a |
AAII Bear: | 34.6 | 36.4 | n/a | n/a |
| US Equity-1 week lag | n/a | (5.9B) | ||
| Money Market Flows | (2B) | 5B | ||
| Baltic Dry Index: | 2161 | 2155 | 11700 | 663 |
Bullish %: | 63 | 55 | 89 | 2 |
| Insider Corporate Sellers: | 60:1 | 30:1 | 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
Subscribe in a reader
No comments:
Post a Comment