Rolling Blackouts in the Mid West have prevented me, on more than one occasion, from posting my thoughts here today. Not once, but twice. Therefore, my motivation has since left me to invest the same amount of energy on this particular post as I have lost on the prior two.

Here are a few thoughts I have...

The action point on the SPX was likened to a "force of nature." As prices rallied without cause (except for the pull back in oil and the rally in the dollar).

I am taking a few profits off in RIMM, which was broke out in a fast and furious manner today. I hope you all have been heeding my advice and have been stockpiling calls and shares of stock in preparation of today's event.

To be honest, I was hoping for more than a small handful of 10-baggers today. Last week was great for my critics, but today I am getting the price action I want, but not the explosions in response. However, I will applaud GNK, RIMM, SINA, CNQR, GMXR, LULU, ANSS, TBSI, CSIQ, ABX, and LVS for their stellar performance today.

The bad news is that I am dealing with a loss of unrealized gains in some energy, natural gas, and coal positions. The way I look at these right now is that they are still within their respective trends. If you are dealing with options that expire this week, you might take these trades off the table with the gains you have and look for entry points to "roll out."

I am still holding a "sleeper" position in LUFK. If it holds here today, you might consider May 80's for a quick buck. I think it might have legs for the next day or two.

Watch for my "Market Commentary" tonight.

Back to "Hunting Bears..."