BUY BYE

Contrary (!) to Main Stream Media (MSM) reports about the market declining over 2% last week on news of Yemen, ISIS, etc., Barron's Streetwise clarifies things a bit with the fact that U.S. stock Buybacks were at record highs in 2014 and continue to do so - in fact, the $1/2T amount in 2014 was more than the mutual funds and ETFs combined! However, they reverse just weeks before each quarterly earnings reports (such as last week) and resume during. Also contributing is window dressing before each quarter ending.

Another interesting factoid in the contrary/sentiment realm is that the Long futures are nearly as high as before the last major decline - and Barron's opines that Oil could fall to the 20s before rallying again - observable, but not actionable, yet.

Last week Sentiment Indicators were again mixed - the CBOE put/call ratio said BUY at week's end (48 to 66); newsletter surveys, which come out early (Tues and Wed.) were complacent. Gold shorters continued to drop!! CEO Insider selling leapt from 24:1 up to 74 to 1. Typical during Income tax time. Finally, MMF (money markets) reversed on the decline from negative $19B to plus $17B.
Here are last week's numbers:

Date>		3/27/2015	3/20/2015
Indices:	DJIA	17712	18127
	NAZ	4891	5026
	SPX	2061	2108
WklyVolume (Bshs).	naz/ny….	9.0/3.8	9.7/5.3
Specul.Ratio hi=bullish		2.37	1.83
Sentiment:	put/call-CBOE	66	48
VIX>50-alltmlow=8.8		15.1	13
Advance/Dec-NYSE..		1212/2014	2515/745
Weekly Net:		-802	1770
Cumulative:		165707	166509
Weekly	NYSE hi/low…	367/77	422/172
New Hi's/Low's	Nasdaq h/l	274/130	395/168
McClellan	Oscillator	-12	22
McClellanSum	.+750/-1000	357	369
Newsletter	Inv.Intel -Bull	56.6	52
Surveys-Tues	Bear:-5yrs	14.1	14.3
Wed.	AAII  -Bull	38.4	27.2
	Bear	24.4	31.5
COT:SPX w/w	large/small (net)k	10k/3k	11k/(56k)
COT:gold  comm.hedg	long-short.000	(53k)	(57k)
CEOinsider	selling	74:1	.24:1
off.&bd b/s.vs.	10% holder b/s	160:40	.160:30
3-box rev	Bullish%-	70	72
US equity -ICI	Fund Flows	WeekDelay	(1.8B)
MMF flows	Change in $B	17B	(19B)
MargDebt- top (300M)	monthly	445B	Jan:
ETF:mthlyEqty/	Int'l/Bond-$B	1219/424/308	Jan:
2-yr Tsy Yield: Inflation		0.60%	0.59%
TIP (ETF)	Inflation	113.42	113.76

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BUY BYE