Market Sentiment alerts as of Wednesday, July 12
1) As of the Close of Wendesday, our Dollar-Weighted Put/Call Ratio ($wPCR) for Narrow-based Indices where very low $wPCR readings are BULLISH were:
| Symbol | Name | $wPCR | Signal | Chart Reference |
| BBH | BioTech HOLDRS | 5.25 | BEARISH | $wPCR Chart |
| SMH | Semiconductor HOLDRS | 0.71 | NEUTRAL | $wPCR Chart |
| XLF | Financial Select Sector SPDR | 1.23 | NEUTRAL | $wPCR Chart |
| XLE | Energy Select Sector SPDR | 1.73 | NEUTRAL | $wPCR Chart |
And,our Dollar-weighted Put/Call Ratio Engine picked the following stocks as good SHORT candidates due to their BEARISH (very high $wPCR) reading:
| Symbol | Name | $wPCR | Chart Reference |
| LEH | Lehman Bros. | 64.4 | $wPCR Chart |
| SAP | SAP AG ADS | 17.9 | $wPCR Chart |
| SNDK | SanDisk Corp | 6.0 | $wPCR Chart |
3) And, ourDollar-weighted Put/Call Ratio Engine picked the following stocks as good LONG candidatesdue to their BULLISH (very low $w P/C Ratio) reading:
| Symbol | Name | $wPCR | Chart Reference |
| FCX | Freeport-McMoRan Copper & Gold | 0.04 | $wPCR Chart |
| NFLD | NorthField Labs | 0.18 | $wPCR Chart |
| CELG | Celgene Corp. | 0.22 | $wPCR Chart |
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Please notethat dollar-weighted put/call ratio's forward-looking window is from one tothree trading days from the signal day (why? in a capsule form, it has to do thepressure the options market makers are under to stay delta neutral while dealing with the3-day stock settlement rule). Once you are in the trade, you should monitor theup-to-date dollar-weighted put/call ratio reading as confirmationof the trade's direction; or, in case of reversal ofthe dollar-weighted put/call ratio reading, as an exit signal.
