The Daily Dose of Trading Comments

With a couple hours to go, the market continues to climb higher. The most encouraging sign, from a bullish perspective, is that the small caps are no longer being pounded. That's where the more speculative action takes place and the speculative players are the ones who will get a rally going at this juncture if it's going to happen.

I've continued to work the long side at this late date because of the holiday trading. These days are generally positive for a number of reasons and it's hard to ignore seasonality in your general trading strategy. That doesn't mean that we throw caution to the wind, ignoring all clues of potential storm clouds on the horizon, but if we worry only about the horizon we will be forced into inaction and indecision. Just take what they give.