Market Sentiment alerts
Tuesday, January 25th, 2005
1) At the close of Today, our Dollar-weighted Put/Call Ratios ($wPCR) for Broad-basedMarket Indices (use contrarian readings) and Narrow-based Sector Indices (use directionalreadings) were:
| Symbol | Name | $wPCR | Signal | Chart Reference |
| SPX | S&P-500 | 1.90 | BEARISH | $wPCR Chart |
| NDX | NASDAQ-100 | 1.45 | BEARISH | $wPCR Chart |
| BBH | BioTech HOLDRS | 4.72 | BEARISH | $wPCR Chart |
| SMH | Semiconductor HOLDRS | 1.38 | NEUTRAL | $wPCR Chart |
| XLF | AMEX Financial SPDR | 0.31 | BULLISH | $wPCR Chart |
2) At the Close of Today, our Dollar-weighted Put/Call Ratio ($wPCR) Engine picked thefollowing stocks as good SHORT candidates due to their BEARISH (very high $w P/CRatio) reading:
| Symbol | Name | $wPCR | Chart Reference |
| THC | Tenet Healthcare | 21.1 | $wPCR Chart |
| GM | General Motors | 5.49 | $wPCR Chart |
| QCOM | Qualcomm | 5.33 | $wPCR Chart |
3) And, our Dollar-weighted Put/Call Ratio Engine picked the following stocks as good LONGcandidates due to their BULLISH (very low $w P/C Ratio) reading:
| Symbol | Name | $wPCR | Chart Reference |
| HAL | Halliburton Co. | 0.09 | $wPCR Chart |
| TWX | Time Warner | 0.12 | $wPCR Chart |
| CVC | CableVision Systems Class A | 0.14 | $wPCR Chart |
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Please note that 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 the pressurethe options market makers are under to stay delta neutral while dealing with the 3-daystock settlement rule). Once you are in the trade, you should monitor the up-to-datedollar-weighted put/call ratio reading as confirmation of the trade's direction; or, incase of reversal of the dollar-weighted put/call ratio reading, as an exit signal.
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