Watch Your Head...

I don't know about you, but right about now, I would be weary of a negative reversal. We may have one more final push higher (until the VIX hits mid to high 19), but I wouldn't be surprised to see that move fail before the end of the week. While it is not unheard of or impossible for the VIX to continue trailing lower, the odds are slim, as it would take an enormously positive set of news to initiate such a move. For now I am in profit taking mode. There is no sense in letting gains go to waste. I've enjoyed some strong moves in some of my longer term trades and some decent ones in the shorter term category, so I can't complain as 2009 will go down as an awesome year. I know that there is some chatter of a X-mas rally. It may happen or it may not. If it does occur, expect it to occur early next week (Monday-Wednesday?).