"HERD" SHOT AROUND THE WORLD:

If Pro is the opposite of Con, is Congress the opposite of Progress? BTW, why do they call them "parties"? As they debate the debt ceiling, the market goes through the floor until Aug.2 (or later). Meanwhile corporations are paralyzed with confusion. Two months ago Key Officer Insider Selling to Buying set a new record of 235:1; last week it popped to 58:1 from 13, with almost no buying in all sectors.
After 2 months of downturn, last week's End-of-Quarter Rally saw improving breadth - my cumulative A/D set a new record high, and NYSE new highs/lows were 366 to 30. The McClellan Oscillator is still overbought at 50%; and newsletters are getting complacent.
Which is why I'm very defensive these days, in the weakest part of the year, with my DITM covered call strategy, which I am updating this Saturday for the SF Bay Area Option Group at Fort Mason. Today's drop has only 3 of my 30 position "temporarily under water". I recommend everyone take a look at this plan for at least a portion of their assets receiving 0% in CDs, MMFs; negative after taxes, Inflation, and a weakening dollar. See brentleonard.com for info on DITM - the eBook is currently being formatted.

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	12657	12582	14093	6626
Nasdaq:	2859	2816	2861	1114
S&P 500:	1343	1339	1561	683
CBOE Eq. put/call:	62	57	96-10/08	46-1/03
VIX:	16.0	15.9	90	8.8
McClellan Osc:	49.9	90	108	(123)
McClellan Sum:	524	248	1568	(1514)
Newsletter Surveys
InvestorsIntel.Bull:	40.9	39.8	63	22.21
InvestorsIntel.Bear:	24.7	26.9	54.4	16
AAII Bull:	41.8	38.3	n/a	n/a
AAII Bear:	24.7	30.2	n/a	n/a
US Equity-1 week lag	n/a	(3B)
Money Market Flows	3.9B	(16.9B)
Baltic Dry Index:	1453	1420	11700	663
Bullish %:	71	68	89	2
Insider Corporate Sellers:	58:1	13:1	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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"HERD" SHOT AROUND THE WORLD: