Monday, January 30, 2012


After a very insignificant increase in Equity Fund flows the previous week, outflows returned last week to the norm from last April. The latest monthly data of ETFs show almost no change in flows from stocks, Int'l, or bonds.
Toppiness still abounds, in speculative Volume (NASD/NYSE), McClellan Oscillator, Bullish %, and the number of Bears in both the AAII and Inv.Intell. Even Barron's cover story was about defensive strategies, using dividend stocks, and the option column is still preaching covered calls.The January Barometer and Effect are both positive, but February is usually not one of the better months - especially after a 20% run up from Oct. (5% this year alone).

1/27/2012 1/20/2012
Indices: DJIA  12660 12720
NAZ  2816 2786

SPX  1316 1315
NASD/NYSE WklyVolume (Bshs) 4.0/9.1 3.3/7.8
nasd/nyse Specul.Ratio hi=bullish 2.28 2.36
Sentiment: put/call-CBOE  62 52
Barron's VIX>50-alltmlow=8.8 18.5 18.3

Advance/Dec-NYSE.. 2251/905 2414/730

Weekly Net: 1346 1684

     Cumulative: 130736 129390
Weekly  NYSE hi/low 367/25 292/36
New Hi's/Low's Nasdaq h/l 200/39 166/43
McClellan  Oscillator 47 52
McClellan Sum .+750/-1000 1050 810
Newsletter Inv.Intel -Bull:tues 50 50
Surveys Bear:-5yrs 28.7 29.8

AAII  -Bull :wed. 48.4 47.2

Bear  18.9 23.6
COT:Change w/w large/small (net)k (2)/16 (4)/19
CEOinsider selling 28:1 25:1
BalticDryIndex GlobalEcon 753 862
3-box rev Bullish%-  80 78
US equity -ICI Fund Flows (.8B) 1 wk lag
MMF flows Change in $B (15B) (13B)
MargDebt- top (300M) monthly OCT. 267B
ETF:Eqty/Int'l/Bond  million$$ OCT. 618/245/184
2-yr Tsy Yield: Inflation 0.22% 0.25%
Euro futures 1 yr.offset-CommHedg 4.82 4.89M

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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