The exceptions that were showing defensive hedging/concern were mostly option related: the CBOE Equity put/call ratio at a high 76 (although the ISEE call/put was not excited, at 127 -scarcely above last week's 124), and the VIX went back up to 18 from 13.
The McClellan Oscillator went down through the zero line to - 23 (support @ -50) and the Summation remained in negative territory at -154.
Finally, market newsletter surveys backed off slightly as did the Panic/Euphoria Index, while shorting - by Public vs. NY Specialists and short interest -remained high.
Option expiration occurs this Friday, so expect volatility.
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