The week that started out so slow got exciting up until the end (well, Friday was pretty boring). Anyway, Monday started out with me being skeptical that the market would drive through the technical barriers in front of it by week's end.I started out the week buying TIE puts and XLF puts to protect myself, but by Thursday I was covering these bets and celebrating the technical advances of each of the market indexes.
The market had a follow through of the bottom established on November 20th. This made Friday a buying day and I picked up BTJ and GS calls for the expected rude during the upcoming week.
The Bollingers are in the way, so I expect very little until Tuesday afternoon. I think that the pundits keep missing the Fed news. It is not about whether they cut by 25 or 50 basis points, but what they say that will move the market. We can have 25 basis points and a sell off or another leg up with the same basis point cut. It is all about the wording. If it is about "inflation", then hide the women and children.
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