Chart of the Week: 10 Day Moving Average Equity Put/Call Ratio

With the internals of the market looking so healthy, youmay be wondering what might derail the rally. Technimental’s Chief Market Strategist Kevin Lane noted a “nagging concern as the year wound down that speculative trading activity had crept into the market.”

10 Day Moving Average Equity Put/Call Ratio

click for larger chart


Source:  Redwood Technimentals

Lane notes “Typically speculation rears its head just before good corrections. The hard part with speculation is it can run its course for a while before it gets over-exuberant. What this tells us is that although the trend is still up we need to pay closer attention to tape activity for signs that sentiment and speculation are leading investors to move out of the market.”


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Quote of the Day:

“The greatest discovery of my generation is that human beings can alter their lives by altering their attitudes.”   -William James (1842-1910)

Category: Economy, Markets

Actual US Deficit: $615 Billion

Welcome to the start of the New Year.

Lets start off on the right foot, with something incendiary and infuriating: The terrific John Crudele of the NY Post cuts thru the government obsfucations on the deficit:  Beltway Bandits’ Storm: $615b Deficit Snow Job

December 28, 2004 — WHAT would you think if I told you that 2004′s federal budget deficit was really $615 billion, which is about 30 percent bigger than you’ve read in the newspapers? Now, what would you think if the Secretary of the U.S. Treasury told you this?

After you look at the government numbers I will present at the end of this column you’ll see that President Bush is absolutely correct in saying that the Social Security system’s finances need to be reformed immediately — although I disagree that privatization is the solution.

Two weeks ago, the U.S. Treasury posted on its Web site a financial statement for the country that was compiled in the same way companies are required to keep their books. 

Read More

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New Year’s Resolutions for Investors

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U.S. Album Sales Slightly Positive for 2004

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DVDs continue to cannibalize CDs

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Music Industry Responding (slowly) to Pricing Issues

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Chart of the Week: Consumer Confidence Spikes

Category: Economy