Great snow, great friends, great weather, and best of all, no accidents.
Some friends and I ventured up to the Tall Timber Lodge in NH's Connecticut Lakes Region near the Canadian border. It's a tradition that we try to keep up each year. We stay at the Tall Timber Lodge in Pittsburg, NH, eat and drink well, and enjoy miles of groomed trails and beautiful scenery. Best of all for me, since there is no internet or phone service up there, the market was relatively sideways as I had expected. It's always a relief not to miss a big move when I'm away from the screen.
As for where we're at now, I'm still waiting for the market to tip its hand, but I am testing the long side this morning with some SPY 127 calls. I'll reassess if it gets to 1254.50. If it doesn't, I'll start positioning for the levels I mentioned in Friday morning's post. Much below 1254.50 and I would start looking for the 1242 area.
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