A new week!

Well here we are on another Monday in December and the market is..... UP, AGAIN! They say that the trend is our friend, and it sure seems pretty dependable. Note we have 2 more Mondays left this month, but only 1 that follows the Santa Rally, and that would be next week- BUT that could be under a lot of selling pressure as Friday is Options Expirations. I think an up Monday next week is a reasonable play however, and look for light volume. Which bodes poorly for the following week... but that could be setting up our new positions for next year. But thats another discussion.

We are now in the crunch time for Dec options, and as we let the TCK 50's ride last week we are approaching that 60 threshold. Remember what the tea leaves (option pain chart) told us? However, unless I'm really a believer in the tea leaves, I'm looking to close out my position (We're sitting on close to 45% profit at 10:00, and like last time I'm might have missed some additional gains, but locking in profit is locking in gains which is really what this is all about. The current Pain index is showing now 70 Calls! Of course there are no bids on that but the 60 option is still selling at $.50, so that is still a 4% rise priced in. At an linear average of 1% off the current price its feasible. So I just may hold another day (or two) ((or three)) we're ruled by fear and greed, fear of the loss and greed of more gain. Watch the market and TCK today, a slow rise over the day bodes very well.

Not really watching too much else today, ANR has posted some nice gains off a bad day last week, but I've just been a spectator- plus I think right now TCK is the play for DEC. ANR is still a nice long play especially as it seems likely they will take over Massey, which will seriously increase their potential but also a test to see if their managment can turn Massey around (Current Massey operating costs are abysmal)

Disclaimer: All info is placed in fun, I own all shares I say I own, in no way should this be a solicitation to buy or sell, just educational fun to see how much I lose!