Market Direction Call S&P 500 Jan 3 2011


	MARKET DIRECTION CALL S&P 500 January 3 2011 - Trend Remains Positive
Since testing the 50 day moving average at the end of December, the S&P has remained positive. Yesterday's little pullback was just an opportunity for the traders to reposition themselves for further gains. MACD doesn't look all that bullish, but the important point for me is it doesn't look bearish. I believe we are moving higher. I am pretty comfortable selling naked puts for the next month out, at the money.

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