TVO Market Barometer 12/5/14

TVO MB 12-5-14b

Volume is back (mostly on the NASDAQ), but still not as much as we’d like to see. This “Limbo Rally” has been going on since 11/17 (2 weeks) and makes you wonder how much longer can this slow steady climb continue? One scenario is that we could see another 2 weeks of this, which would take us right up to the holidays (and quadruple witching), but can the market behave until then? For now we sold our SPY calls and moved into cash for the time being. Complete details of the trade will be posted soon. -MD

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