For Wednesday, April 13th, 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 | 0.45 | BULLISH | $wPCR Chart |
SMH | Semiconductor HOLDRS | 0.60 | NEUTRAL | $wPCR Chart |
XLF | Financial Select Sector SPDR | 0.91 | NEUTRAL | $wPCR Chart |
XLE | Energy Select Sector SPDR | 2.99 | 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 |
FRX | Forest Labs Inc. | 17.06 | $wPCR Chart |
F | Ford Motors | 16.87 | $wPCR Chart |
TASR | TASER International | 6.33 | $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 |
LOW | Lowes Companies Inc. | 0.05 | $wPCR Chart |
HOV | Hovnanian Enterprises A | 0.07 | $wPCR Chart |
MWD | Morgan stanley | 0.10 | $wPCR Chart |
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Please note that dollar-weighted put/call ratio's forward-looking window is fromone to three 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 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.
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