The quickest way to double your money is
to fold it in half and put it back in your pocket.
to fold it in half and put it back in your pocket.
Markets are still having trouble getting through resistance: triple zero (the DJIA at 13,000); the S&P 500, 1370 prior top, etc. Technically this works because people who bought there are selling to get even, and technicians are aware of this - so it is self-fulfilling.
In Wyckoff jargon, the current Trading Range is transfer of shares either from strong hands to weak (for a Distribution) or the opposite (ReAccumulation). Future direction will give the answer.
No new extremes to report, only a Regression from the recent ones - put/calls at 68; Bullish % at 83; CEO selling still high. Here are the numbers:
| Date> | 3/8/2012 | 3/1/2012 | |
| Indices: | DJIA | 12922 | 12977.. |
| NAZ | 2988 | 2976 | |
| SPX | 1370 | 1369 | |
| NASD/NYSE | WklyVolume (Bshs). | 8.3/3.7 | 9.3/4.1 |
| nasd/nyse | Specul.Ratio hi=bullish | 2.24 | 2.27 |
| Sentiment: | put/call-CBOE | 68 | 63 |
| Barron's | VIX>50-alltmlow=8.8 | 17.1 | 17.3 |
| Advance/Dec-NYSE.. | 1667/1475 | 1401/1759.. | |
| Weekly Net: | 192 | -358 | |
| Cumulative: | 133415 | 133223 | |
| Weekly | NYSE hi/low | 248/46 | 383/27 |
| New Hi's/Low's | Nasdaq h/l | 177/88 | 236/63 |
| McClellan | Oscillator | 0 | -37 |
| McClellan Sum | .+750/-1000 | 912 | 1116 |
| Newsletter | Inv.Intel -Bull:tues | 47.9 | 51.1 |
| Surveys | Bear:-5yrs | 26.6 | 25.5 |
| AAII -Bull :wed. | 42.4 | 44.5 | |
| Bear | 29 | 26.8 | |
| COT:Change w/w | large/small (net)k | (9)/20 | (5)/24 |
| CEOinsider | selling | 34:1 | 45:1 |
| BalticDryIndex | GlobalEcon | 771 | 763 |
| 3-box rev | Bullish%- | 83 | 85 |
| US equity -ICI | Fund Flows | 1 wk lag | (3.1B) |
| MMF flows | Change in $B | (7.0B) | (13.1B) |
| MargDebt- top (300M) | monthly OCT. | ||
| ETF:Eqty/Int'l/Bond | million$$ OCT. | ||
| 2-yr Tsy Yield: Inflation | 0.33% | 0.28% | |
| Euro futures | 1 yr.offset-CommHedg | 5.23 | 5.19 |
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