I thought the most bullish action today was the sell off in the bond market. Whether it is simply investors showing a willingness to take risk or a new belief in growth, it is what the stock market needs.
I wonder if we will see sideways trade through the weekend and then a big move one way or the other on Monday. Might make sense just to sit and wait until that Iraqi election ends to see which way we break. Maybe we can continue the rally but it felt a bit hesitant. I would not be at all surprised to see vols getting bid up through the week and checking out some straddles might make sense.
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