BOW-WOW!:

The above title is the best way I can describe last week's Best Of Wyckoff seminar (please see www.tsaasf.org for details); my figuring estimates that the mostly filled large auditorium at GGU received approximately $500 worth of trading information based on faculty instruction class fees for a ridiculously low $5, $25 for non-members, more for CE credits for CFPs.

Much of the material presented was about trader behavior and risk, especially by GGU Professor and one-time partner of Martin Pring's management group, Bruce Fraser echoing the thought that everything we learn in life is diametrically opposed to what you need to do in successful trading - making the tough decisions (similar to what Congress and the government is currently facing).

Although the overall feeling ( Wyckoff, pt.& figure, etc.) was Bullish, few of the Indicators are now reflecting that: the newsletter surveys - the Inv.Intelligence Bull/Bear ratio is an incredulous over 50 to under 20, although we see the AAII switching within 2 weeks from + 18 to - 14 inversion (see below) in direct contrast.

Other indications of a very strong market needing a pause include the Bullish % creeping up to the record high at 83% of stocks on a BUY signal and the NY new highs at 247 to...2. All else is rather tepid, for now.

Volume remains a mystery with the dark pools off the radar, 5 low price stocks commanding incredible volume (30% of the NYSE alone).

Encyclopedist Thomas Bulkowski even sees the failure rate of the most common chart formations rising recently, albeit from a very low level over 20 years.

Here are the statistics:

MktSentiment. 8/28/2009 Prev. Week.....5Yr.HI......LOW

DJIA ………. 9544………9505.………..14093............6626

Nasdaq………. 2028………2020…………2810.............1114

S&P500…….. 1028………1026………….1561………..683

CBOE Eq. put/call …58…………..55……..…96-10/08….....46-1/03

VIX ………. 24.3……….25.0…….…….90…….….8.8

McClellan Osc………-3…………..25…………..108……..(-100) McClelSum…………..1345……..1302………..…....1568-....-1514

Newsletter Surveys:

Inv.Intel -Bull:…..…51.5………..48.3.. ………….…63 ……...22.2l

Bear:………… 19.8………..23.1……..……… 54.4….......16

AAII-Bull/Bear ……34.0/48.5….51.0/33.0…….…..n/a

Nova/Ursa

MutualFunds………0.95………..0.84…………….2.2……..0.56

Baltic Dry

Index ……2421……….2468………….11700………663

Bullish%- …….…83………….81………….…88…….....2

*Insider corporate

sellers. 21:1……….16:1……………108:1…….2.4:1

Mutual Fund Inflows .. 0.4B……0

ETF InflowsL……… 3.8B……..-1B

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BOW-WOW!: