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3 hrs ago | SchaeffersResearch.com
CNN has an indicator comprised of seven "Fear & Greed" indices, as seen here . Right here, right now, junk demand remains in an "Extreme Greed" phase, as the market demands a relatively low premium over investment grade corporate bonds.
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Although BAC hasn't traded north of $17 since mid-2010, the equity has still had a solid showing on the charts over the past 52 weeks, tacking on roughly 44%.
"The negative momentum continued today, although small-caps actually became the leader rather than the laggard," noted Schaeffer's Senior Equity Analyst Joe Bell, CMT.
These technical and fundamental developments are having a pronounced effect in the company's options pits, where overall volume is running at 14 times the normal pace.
In fact, this drop has landed the yoga apparel guru on the short-sale restricted list.
Option Brief : Visa Inc ran to a record high today, thanks to a halo lift from sector peer MasterCard Inc .
Also hitting the new-high list in Wednesday's action was Las Vegas Sands, which tagged the $77.70 level, its highest point since April 2008.
"We really didn't digest any major economic data today, but there were a lot of participants rushing for the exits, and it seemed like simple profit taking," observed Schaeffer's Senior Equity Analyst Joe Bell, CMT.
Trade-Alert indicates that some speculators are throwing in the towel, and closing out their bullish bets, data from the International Securities Exchange indicates that a number of positions have been bought to open.
Tesla Motors Inc stock is on the rise once again. The company's future is looking brighter on news of positive production dynamics, and an easing of Model S ire pressure.
The Dow Jones Industrial Average is closing back in on the psychologically significant 16,000 mark this morning, with futures pointed modestly higher.
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On the charts, Advanced Micro Devices, Inc. has performed admirably this year, tacking on 55%.
Earlier, the stock even hit a record high of $54.13. Not surprisingly, activity in the options pits has also picked up, especially on the call side, where volume is running at a more than eight-fold mark-up to typical intraday levels.
James Lott, outside the Wal-Mart store where he works as a pharmacist in Washington state, believes he's not rich, but he pulls in a six-figure salary and adds to that with day-trading stocks.