THE IDES OF MARCH:

Once again the extremes of Sentiment Indicators eventually predicted at the very least a temporary cessation of the record rise in the markets due to QE II - the fastest since 1936; just before the "Echo" Bust from 1929.
Insider Sellers are still  piling Out, 94:1; Inv. Intell. Bears sunk to a new recent low, with Bulls moving higher. Equity ETFs still hold more than Int'l. and Bonds combined, over $1/2T. But the CBOE put/call jumped up to 66 on fears of a selloff.

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	12130	12391	14093	6626
Nasdaq:	2781	2834	2861	1114
S&P 500:	1319	1343	1561	683
CBOE Eq. put/call:	66	55	96-10/08	46-1/03
VIX:	19.2	16.4	90	8.8
McClellan Osc:	3	31	108	(123)
McClellan Sum:	753	826	1568	(1514)
Newsletter Surveys
InvestorsIntel.Bull:	53.3	52.2	63	22.21
InvestorsIntel.Bear:	18.9	19.6	54.4	16
AAII Bull:	36.6	46.6	n/a	n/a
AAII Bear:	36.2	25.6	n/a	n/a
US Equity-1 week lag	n/a	5.2B
Money Market Flows	(5.1B)	5.6B
Baltic Dry Index:	1301	1292	11700	663
Bullish %:	83	89	89	2
Insider Corporate Sellers:	94:1	52:1	198:1	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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THE IDES OF MARCH:

FINAL NOTICE:

For readers in the Bay Area, my string of talks on my DITM covered call investment strategy is ending with a FREE talk at Golden Gate Univ., Wednesday the 23rd at 5:30 P.M. as I prepare for my vacation mode! It has been a fun ride from San Jose to Orinda, but a lot of work - for me and for my Powerpoint man - Jim Norton.

 For more on DITM, please see my other blog: http://ditmcalls.blogspot.com.

The market continues its inexorable ride, Bernancke ex machina, up the wall of global worry. The DJIA is up 89% since March '09; the SPX (500) up over 100%; the Nasdaq up 125%, more than decades ago in 1982 (1 year rise) and 1974 (2 year gain).

My new Indicator, speculation as measured by Nasd divided by NYSE Volume, hit a new high, as did my cumulative Adv./Dec. Bullish per cent also hit an all-time high of 89. Money is entering domestic equity mutual funds again after a year of shifting to foreign markets.
I just started following the COT (commitment of traders) this week - should appear when testing is meaningful.

Here are the numbers:

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	12391	12273	14093	6626
Nasdaq:	2834	2809	2861	1114
S&P 500:	1343	1329	1561	683
CBOE Eq. put/call:	55	53	96-10/08	46-1/03
VIX:	16.4	15.7	90	8.8
McClellan Osc:	31	28	108	(123)
McClellan Sum:	826	703	1568	(1514)
Newsletter Surveys
InvestorsIntel.Bull:	52.2	53.4	63	22.21
InvestorsIntel.Bear:	19.6	23.3	54.4	16
AAII Bull:	46.6	49.4	n/a	n/a
AAII Bear:	25.6	26.9	n/a	n/a
US Equity-1 week lag	n/a	4.9B
Money Market Flows	5.6B	10.2B
Baltic Dry Index:	1292	1136	11700	663
Bullish %:	89nh	88	89	2
Insider Corporate Sellers:	52:1	125:1	198:1	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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FINAL NOTICE:

10-YEAR SENTIMENT INDICATOR RECAP: Tuesday, GGU, 3 p.m.

Tomorrow afternoon I shall be evaluating the Sentiment Indicators' efficiency over the past decade, along with the DITM investing strategy which prevailed over the decade's zero interest rate and zero stock appreciation (before the recent rally). Several were quite successful in marking excessive levels before reversals.

One of the best, albeit more breadth than sentiment, was the Bullish per cent, which is at its high (as is the Nasdaq for 4 years); my cumulative A/D continues to make all-time highs, although the McClellan Indices do not.

Corporate Insider Selling is an astounding 125:1 over Buying - I knew college costs were expensive, but wow! Money continued to flow into mutual funds, but also reversing into MMFs as well.

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	12273	12092	14093	6626
Nasdaq:	2809	2769	2861	1114
S&P 500:	1329	1310	1561	683
CBOE Eq. put/call:	53	55	96-10/08	46-1/03
VIX:	15.7	15.9	90	8.8
McClellan Osc:	(28)	8	108	(123)
McClellan Sum:	703	602	1568	(1514)
Newsletter Surveys
InvestorsIntel.Bull:	53.4	52.7	63	22.21
InvestorsIntel.Bear:	23.3	22.0	54.4	16
AAII Bull:	49.4	51.5	n/a	n/a
AAII Bear:	26.9	26.9	n/a	n/a
US Equity-1 week lag	n/a	1.4b
Money Market Flows	10.2B	(21B)
Baltic Dry Index:	1064	1137	11700	663
Bullish %:	88	87	88	2
Insider Corporate Sellers:	125:1	43:1	198:1	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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10-YEAR SENTIMENT INDICATOR RECAP: Tuesday, GGU, 3 p.m.

STEPFORD WIVES' MARKET:

Even with the global turmoil and unemployment numbers, the markets continue their ride upwards - in the face of complacent sentiment and market breadth. Bullish % remains at all time highs (stocks on BUY signals); Corporate Insider selling - now 43:1; and the VIX below 16.

I gave a talk last week on the results of 10-years' Sentiment Indicators in Orinda and will be giving the same talk at GGU on the 15th and 23rd. I'll also explain my in-the-money call strategy for a sideways market (?), found at http://ditmcalls.blogspot.com.

Here are the results from last week:

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	12092	11823	14093	6626
Nasdaq:	2769	2686	2805	1114
S&P 500:	1310	1276	1561	683
CBOE Eq. put/call:	55	60	96-10/08	46-1/03
VIX:	15.9	20.0	90	8.8
McClellan Osc:	8	(24)	108	(123)
McClellan Sum:	602	540	1568	(1514)
Newsletter Surveys
InvestorsIntel.Bull:	52.7	55.1	63	22.21
InvestorsIntel.Bear:	22.0	19.1	54.4	16
AAII Bull:	51.5	42.0	n/a	n/a
AAII Bear:	26.9	34.3	n/a	n/a
US Equity-1 week lag	n/a	3.2B
Money Market Flows	(21B)	(3.8B)
Baltic Dry Index:	1064	1137	11700	663
Bullish %:	87	86	88	2
Insider Corporate Sellers:	43:1	10:1	198:1	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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STEPFORD WIVES' MARKET: