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Posted 06 January 2005 - 11:06 AM
Market Sentiment alerts for Wednesday, January 5th, 2004
1) As of the Close of Today, our Dollar-Weighted Put/Call Ratio ($wPCR) for Broad-based (contrarian) and Narrow-based (directional) Indices were:
| Symbol | Name | $wPCR | Signal | Chart Reference |
| SPX | S&P 500 | 1.19 | BEARISH | $wPCR Chart |
| NDX | Nasdaq 100 | 0.49 | BEARISH | $wPCR Chart |
| BBH | Biotechnology HOLDRS | 0.60 | NEUTRAL | $wPCR Chart |
| SMH | Semiconductor HOLDRS | 0.50 | NEUTRAL | $wPCR Chart |
| XLF | AMEX Financial SPDR | 3.15 | BEARISH | $wPCR Chart |
2) At the Close of Today, our Dollar-weighted Put/Call Ratio Engine picked the following stocks as good SHORT candidates due to their BEARISH (very high $wP/C Ratio) reading:
| Symbol | Name | $wPCR | Chart Reference |
| CI | Cigna Corp. | 12.8 | $wPCR Chart |
| DT | Deutsche Telekom AG | 12.4 | $wPCR Chart |
| FNM | Federal National Mortgage | 11.3 | $wPCR Chart |
3) And, our Dollar-weighted Put/Call Ratio Engine picked the following stocks as good LONG candidates due to their BULLISH (very low p/c ratio) reading:
Symbol Name $wPCR Chart Reference WAG Walgreens Co. 0.06 $wPCR Chart IPXL Impax Laboratories 0.09 $wPCR Chart SYK Stryker Corp. 0.13 $wPCR Chart
Please note that dollar-weighted put/call ratio's forward-looking window is from one to three trading days from the signal day (why? in a capsule form, it has to do the pressure the options market makers are under to stay delta neutral while dealing with the 3-day stock settlement rule). Once you are in the trade, you should monitor the up-to-date dollar-weighted put/call ratio reading as confirmation of the trade's direction; or, in case of reversal of the dollar-weighted put/call ratio reading, as an exit signal.
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We are LONG the S&P-500 Cash Index (SPX) from 1121.84 (closing price on 10/12/04) for the Timer of the Year Competition monitored the Timer Digest service.[color= navy; FONT-FAMILY: 'Book Antiqua']
All the best;
Fari Hamzei
Tel: (310) 306-1200
Email: Fari@HamzeiAnalytics.com
Group Leader of
Los Angeles TradeStation/eSignal/RealTick/MetaStock Users Group:
