From last night’s futures I had expected an up day, but nothing like we had! There was some gusto there starting in the overnite and strong out of the U.S. open. We broke the pattern of having a down 1st trading day of December for the past 3 years. There’s some upward momentum going on now so it may continue. But, the markets haven’t strung together 3 up days in a row for about 2 weeks now….so Wednesday will be a challenge.
I picked up a few bucks today with TBT which is a bonds short ETF. So when interest rates go up, so does TBT. I sold it for 80 cents profit, and then picked up some call options, so I’m still exposed to bonds. I’m going to concentrate on ES futures tomorrow since I haven’t traded for a week now, been watching but not trading. Gotta get back into the groove. 
We have the monthly Unemployment Report on Friday, but also keep in mind we still have a Santa Claus rally, tax loss selling and end-of-year manipulation to deal with in these last 20 days of trading. So be careful out there, and happy trading. 
And some food for thought:
The real cost to business of government guarantees.
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