THANK YOU FRIDAY!!:

With a nearly 300 point upswing to the EOM, EOQ2, EOH1 (1st half) of 2012, the market salvaged a decent year-to-date with portfolio dressing on the final day. According to Sam Stovall, the markets rise in the second half of the year 80% of the time, especially in an election year - 70% in the 4th Q. Also, if the SPX is higher on Oct.31 than on July 1, the incumbent President gets re-elected.
U. of Michigan Consumer Sentiment survey sank to 73 last week - a multi-month low.

This week's report shows a wild swing in MMF flows from a huge decrease the prior week to a small inflow last week. Near the bottom of the grid below is shown ETF totals (in Millions$) - stocks, Int'l stocks and bonds. These have been almost unchanged lately after the huge bond surge. Margin debt over $300B usually causes a downdraft in the markets.

Here are the numbers:

Date>		6/29/2012	6/22/2012
Indices:	DJIA	12880	12640
	NAZ	2935	2892
	SPX	1362	1335
NASD/NYSE	WklyVolume (Bshs).	8.3/4.1	n/a
nasd/nyse	Specul.Ratio hi=bullish	2.02	****
Sentiment:	put/call-CBOE	72	64
Barron's	VIX>50-alltmlow=8.8	17.1	18.1
	Advance/Dec-NYSE..	2431/742	1813/1363
	Weekly Net:	1689	450
	Cumulative:	136028	134339
Weekly	NYSE hi/low	346/147	260/86
New Hi's/Low's	Nasdaq h/l	220/172	213/132
McClellan	Oscillator	76	45
McClellan Sum	.+750/-1000	208	0
Newsletter	Inv.Intel -Bull:tues	38.7	37.2
Surveys	Bear:-5yrs	24.7	25.6
	AAII  -Bull :wed.	28.7	32.9
	Bear	44.4	35.9
COT:Change w/w	large/small (net)k	(2)/(10)	(1)/(6)
CEOinsider	selling	13:1	22:1
BalticDryIndex	GlobalEcon	924	924
3-box rev	Bullish%-	56	55
US equity -ICI	Fund Flows	1 wk lag	(1.8B)
MMF flows	Change in $B	3.4B	(20.9B)
MargDebt- top (300M)	monthly	279B	MAY
ETF:Eqty/Int'l/Bond	million$$ .	650/248/216	MAY
2-yr Tsy Yield: Inflation		0.31%	0.32%

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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THANK YOU FRIDAY!!: