By Lawrence G. McMillan
The feature article discusses the fact that stocks, bonds, and the U.S. Dollar have all been declining together. A hedged position is recommended in Bonds vs. the Dollar.
The $VIX spike peak buy signal was stopped out, but another may be setting up (page 4).
Our market opinion is explained on page 5. Essentially, we view $SPX as trading with volatility in the 1600-1650 range. A breakout of that range should be significant.
There are a couple of charts on page 6 that refute the old adage “Don’t Fight The Fed.”
The two phases of the Total put-call ratio are discussed on page 7 (left column). There have been good profits on the short-term signals in the last couple of months. In addition, the intermediate-term is about to set up another buy signal in the near future.
Also, the put-call ratios are discussed on page 7. We are making two contingent recommendations (MSFT and STX) , and one speculative position (UTX).
A put sale in CL is on page 8, while on page 9, there is a contingent gtrade in GLD, an intermarket spread in GLD vs. GDX, and a earnings-based trade in FDS.
On page 12, a volatility spread using $VIX options is recommended.
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