By Lawrence G. McMillan
This is the only issue to be published in May, and it is a “double issue.” The reason for this change in the publication schedule was an extensive travel schedule from April 30th through May 15th. While not technically twice the length, there are twice the number of articles.
The first two articles have technical analysis as their subject matter – not options. The feature article discusses an interesting phenomenon: what happens to the “Sell in May and go away” theory when new all-time highs are being made in May?
On page 4, there is an article discussing Dick Arms’ research that the broad market makes a substantial top every seven years (it’s been nearly 7 years since the last peak).
On pages 8 & 9, an article discusses the current state of the equity-only put-call ratios. It’s unusual since the two ratios have been on opposite signals for some time.
Our market commentary is on pages 6-7. Simply stated, we continue to await a breakout from the trading range.
On page 12, we discuss the EEM and EWZ volatility futures and their current overpriced state. Two recommendations in that regard appear on page 7.
On page 11, there are new recommendations in OREX, Live Cattle, TLT, and AMZN.■
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