Tuesday, April 19th, 2005
For the last 90 days preceding
1) At the Close of Today, our Dollar-weighted Put/Call Ratios ($wPCR) for Broad-basedMarket Indices (where very high $wPCR readings are BULLISH) and Narrow-based SectorIndices (where very low $wPCR readings are BULLISH) were:
| Symbol | Name | $wPCR | Signal | Chart Reference |
| BBH | BioTech HOLDRS | 0.79 | NEUTRAL | $wPCR Chart |
| SMH | Semiconductor HOLDRS | 1.37 | NEUTRAL | $wPCR Chart |
| XLF | Financial Select Sector SPDR | 2.20 | mildly BEARISH | $wPCR Chart |
| XLE | Energy Select Sector SPDR | 2.25 | mildly BEARISH | No $wPCR Chart |
2) At the Close of Today, our Dollar-weighted Put/Call Ratio ($wPCR) Engine picked thefollowing stocks as good SHORT candidates due to their BEARISH (very high $w P/CRatio) reading:
| Symbol | Name | $wPCR | Chart Reference |
| BLS | Bellsouth Corp. | 18.63 | $wPCR Chart |
| CMCSA | Comcast Corp CI A | 8.87 | $wPCR Chart |
| CHIR | Chiron Corp. | 7.79 | $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 |
| CMX | Caremark R X Inc | 0.04 | $wPCR Chart |
| MRO | Marathon Oil Corp | 0.07 | $wPCR Chart |
| GSF | Globalsantefe Corp | 0.10 | $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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We are LONG the S&P-500Cash Index (SPX) from 1121.84 (closing price on 10/12/04) for the Timer of the YearCompetition monitored by the TimerDigest service.
For Calendar Year 2004, according to JimSchmidt of Timer Digest, we came in at 108.98, which ranks us at 11th, out ofapproximately 150 timers.
