Monday, April 6, 2015


Governor Jerry "Brown's" final legacy might be his necessary mandate to turn every household's lawn from green to brown, considering our prolonged drought. To his credit, however, he managed to help save my "watering" hole - Capp's Corner in North Beach- from being leased-out, since he lunches there monthly with his St. Ignatius H.S. buddies and supposedly pressured the landlord to be reasonable.

Also seemingly healthy (judging by today's action) is the stock market, now up nearly 200 points after a lousy employment number on Good Friday. Last week's numbers, ending on Thursday, showed reversals in breadth indicators - advance/declines, and the McClellan Oscillator, with increased New Highs. Other reversals include the  CEO Insider selling to much lower selling; and a large swing in MMF (money market) flows -from plus $17B to negative $47B!!

Lastly, the monthly figures for ETF assets came out - all at record inflows - stocks, bonds, and overseas investing. Here are the numbers:

Date> **4/2/2015 3/27/2015
Indices: DJIA  17763 17712
  NAZ  4886 4891
SPX  2066 2061
WklyVolume (Bshs). naz/ny…. **6.9/3.2 9.0/3.8
Specul.Ratio hi=bullish 2.16 2.37
Sentiment: put/call-CBOE  69 66
VIX>50-alltmlow=8.8 14.7 15.1
Advance/Dec-NYSE.. 2145/1070 1212/2014
Weekly Net: 1075 -802
     Cumulative: 166782 165707
Weekly  NYSE hi/low… 261/57 367/77
New Hi's/Low's Nasdaq h/l 237/125 274/130
McClellan  Oscillator 12 -12
McClellanSum .+750/-1000 380 357
Newsletter Inv.Intel -Bull 54.5 56.6
Surveys-Tues Bear:-5yrs 14.2 14.1
Wed. AAII  -Bull  35.4 38.4
Bear  32 24.4
COT:SPX w/w large/small (net)k 6k/(3k) 10k/3k
COT:gold  comm.hedg long-short.000 (81k) (53k)
CEOinsider selling 25:1 74:1
off.&bd b/s.vs. 10% holder b/s .160:30 160:40
3-box rev Bullish%-  70 70
US equity -ICI Fund Flows WeekDelay (4.5B)
MMF flows Change in $B (47B) 17B
MargDebt- top (300M) monthly  465B 445B
ETF:mthlyEqty/ Int'l/Bond-$B 1280/457/320 1219/424/308
2-yr Tsy Yield: Inflation 0.48% 0.60%
TIP (ETF) Inflation 114.05 113.42

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