Despite End-Of-Quarter window dressing, and a volatile week (at least for the Blue Chips) the Sentiment Indicators are amazingly, flatline boring. Although not indicating a readiness to surge to the upside, other than first of the month surges, there is little complacency to indicate a market top, even though we are at some Resistance levels (trend channels, 5-year highs, etc.). OTC stocks seem to be stronger, as seen by a 528 to 71 new high/new low ratio. Although Volume has been weaker lately, I received an e-mail from Barron's Michael Santoli to watch out for increase due to the merger of the NYSE and Archipelago- a chartist's nightmare.
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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