Santa Rally Continues!

Its Monday again, and guess what? That's right the market is set to open UP again. Now I am getting more and more bearish on the market for next week but in this shortened and most likely low volume week anything is possible, and I tend to view it as possible. (Side note this Thursday I will be trimming positions as I expect the first week of the new year to be baaaaaaad. Though it may be (as some analysts seem to point to) that the pullback won't be until February- but as far as and as fast as the market has come in the past 2-3 months I just don't see it keeping up this frankly torrid pace.

There was an interesting piece on 60 minutes Sunday regarding states debts- and it was pretty ugly. They said that Illinois state troupers were being turned away from gas stations if they wanted to pay with their state issue cc- that's how delinquent the state is on payments. We're broke, just some states are broke-r than others, and its probably going to take the Federal government to bail the states out now. So what does that mean? Well the previous plan has always been ask someone for the dough, but we're running out of lenders, and we don't like giving up what we have. Its a real lose lose.

The sliver of silver lining to this is that as money gets printed the stock market will go up (as the businesses become somewhat of a 'commodity' But then your dollar is worthless anyway so its really not a great situation. We really need to embrace or maybe a better expression is 'take our medicine' and yes pay taxes and accept they need to go up. We can't have less than 50% of the population paying NO Federal taxes, its unsustainable, and sure in the short term it hurts, but it'd hurt a lot less now then not too far down the road.

Whats the plan for today? I'm looking to grab shooting stars and flip them. TCK has looked strong last two days and closed Friday looking really nice. Looking at some Jan options (deep in money) I think IO should bounce back, looking for 8.5 in a couple days, going to try and grab some $5 options, DGIT may continue to climb, on a drop I'm buying March 25 options mid 4's.

I'll try and update any purchases.

***Bought Jan TCK 50 @8.3