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Daily Market Update – December 21, 2016 (7:30 AM) For as quiet of a day as yesterday was, there were certainly plenty of trading opportunities. Enough so, that I’m not left with any more rollovers for the week, at least not for positions expiring this week. I even, uncharacteristically rolled over some positions not expiring for another 4 weeks, although both were dividend related rollovers. This morning seems as if it is going to get off to a quiet start, but for the most part, that has been the story since the election. There really haven’t been any days that have telegraphed a large move up or down in the futures. The market has just kept its steam and moved higher, a little at a time. That definitely reminds me of 2007. Back then, it seemed as if each and every day, heading into October of that year, was just one new high after another. I don’t think that the next chapter is going to be like the one that followed those October 2007 highs, but I do like my cash position now much better than I did back then. Or even a month ago. So, for the rest of the week, I will probably be a bystander, although I still wouldn’t mind parting with some money. I almost did so yesterday, with a name that wasn’t on the list this week and will give it another look or two today. Otherwise, it could be a snoozer, even as we do have a GDP coming our way tomorrow, |
