Let's Go Vertical

The daily $SPY volatility has been replaced with a vertical move up. Optimism abounds. Projections of SP500 1450 and 1500 are making the rounds today. And why not?

Rumors of an imminent deal that would provide more cash to Greece is in the news. A US compromise to raise taxes and promise to cut spending in the future someday is in the news. And a deal in the NFL, too? Sweet.

Pay no attention to the rising jobless claims. The market is a forward lookin' mechanism, don't ya know! Besides, with the Roku 2 coming out, who wants to be stuck in the office when you could be playing Angry Birds on your TV? Raise the debt ceiling, sell more Treasuries to China, get those unemployment bennies rolling in, and kill those darn pigs! It's not right they took those birds' eggs in the first place!

Anyway, no change in my point of view, asset allocation or short term trades. Just hanging out...