Tuesday, August 26, 2014

BETTER LATE...

After a whirlwind wedding in Redding, I settled in to do the latest Sentiment readings:
Commercial gold traders still remain high in selling - down slightly from the prior week; insider selling of stocks is still also high - both officers/board and 10% owners.
The AAII Bulls jumped up 6 % points, Bears down slightly.
I shall be off again on vaca next week with no means to update this column.

Here are the numbers:

Date> 8/22/2014 8/15/2014
Indices: DJIA  17001 16662
  NAZ  4557 4464
SPX  1988 1955
WklyVolume (Bshs). naz/ny 7.3/2.8 8.0/3.0
Specul.Ratio hi=bullish 2.6 2.7
Sentiment: put/call-CBOE  54 62
VIX>50-alltmlow=8.8 11.5 13.2
Advance/Dec-NYSE.. 2318/914 2318/909
Weekly Net: 1404 1409
     Cumulative: 165033 163629
Weekly  NYSE hi/low 405/52 234/79
New Hi's/Low's Nasdaq h/l 210/124 157/153
McClellan  Oscillator 35 29
McClellanSum .+750/-1000 378 100
Newsletter Inv.Intel -Bull:tues 49.5 46.4
Surveys Bear:-5yrs 16.2 16.2
AAII  -Bull :wed. 46.1 39.8
Bear  23.7 27
COT:SPX w/w large/small (net)k 5/(7) 4/(6)
COT:gold  comm.hedg long-short.000 (148k) (161k)
CEOinsider selling 38:1 21:1
off.&bd b/s.vs. 10% holder b/s 160/50 160:60(50sale)
3-box rev Bullish%-  75 71
US equity -ICI Fund Flows WeekDelay (3.9B)
MMF flows Change in $B 6.7B 10.5B
MargDebt- top (300M) monthly 
ETF:mthlyEqty/ Int'l/Bond-$B
2-yr Tsy Yield: Inflation 0.50% 0.41%

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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Monday, August 18, 2014

DOG DAYS

We are now in the Dog Days of summer - vacation time for most Europeans, Wall Streeters, and myself (Wedding in Redding, then my favorite coastal resort). Volume on the NYSE and Nasdaq was down last week. However, Insider sales of 10% stockholders jumped last week, although other insiders ( board members, officers) remained at the same pace. This blog has only recently broken these down, after keeping Sector Sales to Buys ratios for years. Probably not a meaningful signal, as the highest Sector selling in years was back in May of 2009 (when I started my DITM strategy). Sellers then were 235:1 !!!

Just as the markets bounced up off the Support levels last week, so did the McClellan Summation off the zero line. Breadth was strong - more about money flows in my Examiner.com column this week:   http://www.examiner.com/stock-market-in-san-francisco/brent-leonard

Here are the numbers for the past two weeks:

Date> 8/15/2014 8/8/2014
Indices: DJIA  16662 16553
  NAZ  4464 4370
SPX  1955 1931
WklyVolume (Bshs). naz/ny 8.0/3.0 8.9/3.4
Specul.Ratio hi=bullish 2.7 2.6
Sentiment: put/call-CBOE  62 69
VIX>50-alltmlow=8.8 13.2 15.8
Advance/Dec-NYSE.. 2318/909 1987/1239
Weekly Net: 1409 750
     Cumulative: 163629 162220
Weekly  NYSE hi/low 234/79 106/196
New Hi's/Low's Nasdaq h/l 157/153 94/253
McClellan  Oscillator 29 -20
McClellanSum .+750/-1000 100 11
Newsletter Inv.Intel -Bull:tues 46.4 50.5
Surveys Bear:-5yrs 16.2 17.1
AAII  -Bull :wed. 39.8 30.9
Bear  27 38.2
COT:SPX w/w large/small (net)k 4/(6) (2)/5
COT:gold  comm.hedg long-short.000 (161k) (132k)
CEOinsider selling 21:1 22:1
off.&bd b/s.vs. 10% holder b/s 160:60(50sale) 150:30
3-box rev Bullish%-  71 70
US equity -ICI Fund Flows WeekDelay (3.1B)
MMF flows Change in $B 10.5B 12.8B
MargDebt- top (300M) monthly 
ETF:mthlyEqty/ Int'l/Bond-$B
2-yr Tsy Yield: Inflation 0.41% 0.45%

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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Monday, August 11, 2014

HEDGE FUN

Thanks to a surprising huge rally Friday, the week came up positive for most markets, despite the worst retracement in months - hopefully that was enough of a respite. Technicians, on the other hand, require a filter of more time (3-4 days" closes beyond a technical break), etc. to resume trend.

With August recently being a weak market month, and Sept.-Oct. even moreso, it would seem advisable to employ hedges on existing portfolios throughout this period, until the election. For more, see:    http://www.examiner.com/stock-market-in-san-francisco/brent-leonard

The resumption of uptrend also  quieted down Sentiment Indicators, including the VIX, which jumped on the downturn.
MMF (money market flows) reversed from outflows the week before to inflows. AAII  Bears dominated for a change, and the McClellan Summation (of the Oscillator) is nearing the zero line - for what that is worth. Just as the SPX bounced up off the 1900 mark after failing to reach the 2000 barrier.
Here are the numbers for last week:


Date> 8/8/2014 8/1/2014
Indices: DJIA  16553 16493
  NAZ  4370 4352
SPX  1931 1925
WklyVolume (Bshs). naz/ny 8.9/3.4 9.9/3.6
Specul.Ratio hi=bullish 2.6 2.8
Sentiment: put/call-CBOE  69 68
VIX>50-alltmlow=8.8 15.8 17
Advance/Dec-NYSE.. 1987/1239 484/2772
Weekly Net: 750 -2288
     Cumulative: 162220 161470
Weekly  NYSE hi/low 106/196 260/191
New Hi's/Low's Nasdaq h/l 94/253 149/254
McClellan  Oscillator -20 -89
McClellanSum .+750/-1000 11 287
Newsletter Inv.Intel -Bull:tues 50.5 55.6
Surveys Bear:-5yrs 17.1 16.2
AAII  -Bull :wed. 30.9 31.1
Bear  38.2 31.1
COT:SPX w/w large/small (net)k (2)/5 .3/5
COT:gold  comm.hedg long-short.000 (132k) (149k)
CEOinsider selling 22:1 22:1
off.&bd b/s.vs. 10% holder b/s 150:30 175:25
3-box rev Bullish%-  70 74
US equity -ICI Fund Flows WeekDelay (8.9B)
MMF flows Change in $B 12.8B (8.8B)
MargDebt- top (300M) monthly  464B
ETF:mthlyEqty/ Int'l/Bond-$B 1116/440/274
2-yr Tsy Yield: Inflation 0.45% 0.48%

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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