TW3:

Those of you older timers like me remember a TV comedy show called TW3 - That Was The Week That Was, or wasn't as in this case. Despite some volatility towards the end of last week, not much changed on the indicator view. The SPX (500) stayed right at 1505, off its all time high of 1527; the VIX also remained the same at 12.9; the McClellan indicators dropped slightly, as did the Bullish Per Cent (1 point).
The few changes included the AAII bull/bear from inverted favoring the bears to dead even , Birinyi's bloggers went more negative at 24 vs. 44.

Upcoming FYIs: I've been asked to give a presentation on how I use T/A for Options at the SF Options group at Fort Mason this Saturday at 9 a.m.; also next week Donald DeLutis is talking before the TSAA Tuesday at GGU on the Long Wave and Economic cycle.

Here are the Sentiment numbers:

Mktsentiment. 5/11/2007......5Yr.HI........ LOW

DJIA ………. 13326...........13326...........7286
Nasdaq………. 2562............2572.............1114
S&P500…….. 1505............1505............776
CBOE Equity put/call .57............87-5/04........46-1/03

VIX ………. 12.9..........44 9/02........10.0-7/05

ISEE-call/put ……. 122...........299-12/04.......58 - 3/9/07
(>200/Bearish)

McClel Osc……………-2...............91-5/04.........(81)-5/04
McClelSum…………… 802..........1568-6/03.......(726)-5/04

Newsletter Surveys:
Inv.Intel -Bull:…..…. ..53.3...........62.9-12/04......35-6/06
Bear:………… 20.0 .........38.2-3/03.......16-6/03

AAII-Bull/Bear ……….42.9/42.9....n/a n/a
MarketVane Bulls…. 74......... 74..............24

Birinyi Blogger
Bull/Bear Poll …………24.1/44.8
Bullish%- ……….…77...............88 -2/04...... 46-8/04
SentimentTrader
Short/longtermBL/BR. N(neutral)/N

*Insider corporate sellers 44:1
Sectors: Most Buyers: Finance, Consumer svcs.,Energy
Most Sellers: Tech, Finance, Consumers,

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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TW3: