Market Sentiment alerts
Tuesday, May 16th, 2006
1) At the Close of Tuesday, our Dollar-weighted Put/Call Ratios ($wPCR) for Narrow-basedSector Indices were:
| Symbol | Name | $wPCR | Signal | Chart Reference |
| BBH | BioTech HOLDRS | 3.12 | BEARISH | $wPCR Chart |
| SMH | Semiconductor HOLDRS | 1.00 | NEUTRAL | $wPCR Chart |
| XLF | Financial Select Sector SPDR | 0.68 | NEUTRAL | $wPCR Chart |
| XLE | Energy Select Sector SPDR | 10.09 | BEARISH | $wPCR Chart |
2) At the Close of Tuesday, our Dollar-weighted Put/Call Ratio ($wPCR) Engine picked thefollowing stocks as good SHORT candidates due to their BEARISH (very high $w P/CRatio) reading:
| Symbol | Name | $wPCR | Chart Reference |
| CMVT | Comverse Technology | 15.6 | $wPCR Chart |
| JBL | Jabil Circuit | 10.0 | $wPCR Chart |
| GOOG | 9.6 | $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 |
| UTX | United Technologies | 0.00 | $wPCR Chart |
| MMM | 3M Co. | 0.00 | $wPCR Chart |
| HON | Honeywell International | 0.01 | $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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