Well evidently someone is pumping trillions into the stockmarket at taxpayer's expense. Excuse my cynicism.
I am short 3800 calls which expire on Friday. I could have bought them back to close at best today at 65, and frankly have no idea where this rally is going, but rolling these into April now looks the best plan, but I have no desire to pay any time value to add to my misery. I hope that common sense rears its head and brings the markets back down to reality- nothing has changed. The army of unemployed grows daily, repossessions and bankruptcies are running at all time highs, so should I be long? Quite probably yes-while US snake oil salesmen are doing their bit to tell people the recession is over.
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