Undecided Is A Position Too

The S&P exceeded 1154. I'm sure I looked like a kook calling for it two days in a row, but that's no problem. Continued trade above 1154 could target 1208.

This does not feel like a week to press bets in the middle, especially with all eyes and ears on Bernanke's Jackson Hole speech on Friday.

Does the S&P rise a few points from current levels and then roll over? Does it gap down slightly then reverse and fill the gap and head higher? Closing at 1162 on higher ticks and higher volume than the previous day now leaves me undecided. That's a position too, isn't it? Well, it is when I feel this way. For now, I'll continue to ride my SDS positions. If I can get bigger in them again at higher levels, great.

I'm not seeing anything compelling in forex at the moment either. Probably because I usually only look at dollar crosses. Perhaps the better trades are setting up in JPY, EUR, and CHF terms.

I'll be working from my friend Chris' office today then taking the train into downtown to meet up with @Chicagosean to talk about trading minimalism and have some drinks. Really looking forward to it -- I rarely get to talk shop since none of my friends trade!