Europe is up across the board this morning and Asia was mixed. The feeling is that Ireland will get some sort of bailout that will go to the banks. The European markets seem to like it thus far, and so do ours. S&P futures are up this morning and we could easily bounce higher from here. There are lower targets too. After all, we did close below 1,200 . . not so great.
On Mondays I like to let the market settle in after the pent-up emotions from everyone's weekend reading and thinking get dissipated and usually don't put on any trades until the afternoon. Friday after being active in OEX calls I ended up with a small hedge for this week. I will wait until we get to a more extreme level before making adjustments.
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