The Big Bad Bear Trap

You have to love it when the market plays according to script. After busting through recent supports & lows, the bear trap was sprung and we rallied back hard for big gains across the board on heavy volume. In fact, it was truly fitting that we closed at the "911" level on the S&P.

You may hate this market and everything about the economy, but you can find some nice trades out there if you're patient. Today's move is proof of that. Of course, another day like today and we'll be back to overbought territory again, but it sure is fun playing and profiting from these wild swings as greed turns to fear and back again.

After today, I've earned a day off and I am going to take one tomorrow. A good friend (you know who you are) sent me a golf certificate for a round at Coral Canyon and I'm taking full advantage of it tomorrow.

I'll be back on Monday to tackle another option expiration week. Until then, trade well my friends.