I'm really glad to see the run that the market is having. It was about time. All my bottoming indicators were screaming oversold, but the ship is hard to turn around and we are not out of the woods yet. It is time to add a little protection. The tape is up more than 450 points without a breather. I picked up some XLF puts this afternoon as insurance for the Fed Beige Book to be released at 2 pm. I am thinking that there may be a little selling prior to 2 pm.
I also bought some TIE puts as well. The stock hit $29.00 on a huge run and I am looking for a little daytrade action there.
I also bought some more Garmin calls at open (Jan180's). It is my intent to roll over the Jan95's if this rocket continues to move higher.
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