Monday, November 4, 2013


. Margin debt, currently over a record $400B, is due to speculation and low rates. Market breadth, as measure by Advance/Declines and New Highs v. Lows, is very strong now. The Bullish Per Cent, stocks on a BUY signal, is at recent record highs(see below). Money is FINALLY starting to flow into Mutual Funds, after a recent 25% market run up this year. (Legal) Insider Selling of key employees -CEOs, etc.- jumped again to 62 to 1 over Buyers.

Lastly, the Investors Intelligence Bull to Bear ratio is now more than 3 to 1, with levels at 52 and 16, respectively!! The AAII ratio is not much weaker.   
 More commentary can be found at:

Here are the numbers:

11/1/2013 10/25/2013
Indices: DJIA  15615 15570
  NAZ  3922 3943

SPX  1761 1759
WklyVolume (Bshs). 9.7/3.8 9.6/3.5
Specul.Ratio hi=bullish 2.55 2.74
Sentiment: put/call-CBOE  56 58
VIX>50-alltmlow=8.8 13.3 13.1
Advance/Dec-NYSE.. 1154/2032 2047/1145
Weekly Net:
-878 902
     Cumulative: 153489 154367
Weekly  NYSE hi/low 477/60 688/40
New Hi's/Low's Nasdaq h/l 455/103 681/64
McClellan  Oscillator -13 46
McClellanSum .+750/-1000 570 513
Newsletter Inv.Intel -Bull:tues 52.6 49.5
Surveys Bear:-5yrs 16.5 18.5

AAII  -Bull :wed. 45 *49.2

Bear  21.5 **17.6
COT:SPX w/w large/small (net)k 14/14 8/15
COT:gold  comm.hedg long-short.000 (82K) (78K)
CEOinsider selling 69:1 41:1
3-box rev Bullish%-  82 81
US equity -ICI Fund Flows WeekDelay 9.2B
MMF flows Change in $B 1B 54B
MargDebt- top (300M) monthly  401B  
ETF:mthlyEqty/ Int'l/Bond-$B 923/368/249  
2-yr Tsy Yield: Inflation 0.32% 0.31%


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