GROUNDHOG DAY?:

Does it seem to the reader that every day is the same? Futures up overnight, market jumps up at the open to arb the futures, and rises steadily through the day. At Charles Biderman's very interesting TSAA meeting last Wednesday, he did not talk much about his "Conspiracy" theory - of the gov't propping the only vehicle it hasn't used yet to inspire confidence in the economy. He did say, as he did many times on CNBC, Bloomberg, etc., that he has no clue on what money drove the $7T rise this past year. If true, our gov't has multiple tricky withdrawals besides MBSs and the Treasury market. Then there is that anonymous $600T derivative market out there somewhere.

This past week was much like the previous in the sentiment area - getting more to extremes are the Bullish per cent, up a point to 83; New Highs 30:1 over Lows; my cumulative A/D is at another new high; and the I.I. Bull/Bear spread is getting wider and more complacently bullish 48 -20.

Not much money came out of MMFs last week, and still almost none went into stock MUFs (mutual funds).

Here are the numbers:

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	10850	10741	14093	6626
Nasdaq:	2415	2374	2805	1114
S&P 500:	1174	1159	1561	683
CBOE Eq. put/call:	55	54	96-10/08	46-1/03
VIX:	17.8	17.0	90	8.8
McClellan Osc:	-19	-1	108	-100
McClellan Sum:	1258	1264	1568	-1514
Newsletter Surveys
InvestorsIntel.Bull:	48.9	46.1	63	22.21
InvestorsIntel.Bear:	20.5	21.3	54.4	16
AAII Bull:	32.4	35.4	n/a	n/a
AAII Bear:	34.7	29.9	n/a	n/a
Nova/Ursa Mutual Funds:	0.67	0.64	2.2	0.56
US Equity-1 week lag	n/a	1.4B
Money Market Flows	-4B	-74B
ETF equity:Monthly Totals	Feb.750B	Jan.731B
Baltic Dry Index:	3098	3379	11700	663
Bullish %:	83	82	88	2
Insider Corporate Sellers:	19:1	27:1	108:1	2.4:1

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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GROUNDHOG DAY?: