Another new indicator I've been following is COT, or commitment of traders - specifically large speculators vs. small. Large ones (the smart money) hit a high shorting number not seen since the March rally this spring.
Finally, although the (legal) Insider Selling is quite high but not record, what stands out is the Tech Sector selling - HUGE.
As many of you know, I've been successfully testing a deep-in-the-money covered call /defensive investing strategy for over two years, achieving at least historic market returns (10-12 %); at last, in the past two weeks 2 conservative institutions have validated my plan - Schwab's top option guru - in an investment letter; and Nuveen,,with 3 closed-end funds. For more on the strategy, please see brentleonard.com.
Here are the Sentiment numbers:
MktSentiment | Last Week | Prev. Week | 5 Yr HI | 5 Yr LOW |
DJIA: | 11951 | 12151 | 14093 | 6626 |
Nasdaq: | 2643 | 2732 | 2861 | 1114 |
S&P 500: | 1270 | 1300 | 1561 | 683 |
CBOE Eq. put/call: | 86 | 69 | 96-10/08 | 46-1/03 |
VIX: | 18.9 | 18.0 | 90 | 8.8 |
McClellan Osc: | (68) | (29) | 108 | (123) |
McClellan Sum: | 181 | 458 | 1568 | (1514) |
Newsletter Surveys | ||||
InvestorsIntel.Bull: | n/a | n/a | 63 | 22.21 |
InvestorsIntel.Bear: | n/a | n/a | 54.4 | 16 |
AAII Bull: | 24.4 | 30.2 | n/a | n/a |
AAII Bear: | 47.7 | 33.4 | n/a | n/a |
US Equity-1 week lag | n/a | (1.0B) | ||
Money Market Flows | 15.9B | (21.9B) | ||
Baltic Dry Index: | 1418 | 1489 | 11700 | 663 |
Bullish %: | 64 | 72 | 89 | 2 |
Insider Corporate Sellers: | 48:1 | 44:1 | 235:1 | 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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