The December Mini S&P Index is up 6.25 points at 1109.25 this morning as I write.  The included chart shows that the uptrend since March is still in play.  Prices are testing their recent highs.  The directional movement indicators are bullish and the ADX line is still fluttering sideways to higher.  I am currently flat in the S&P futures and we will stay that way for now.  If you are long stocks, stay long, but if you are nervous, you can always either buy put options on stocks that you own, write calls against stocks that you own or simply take some profits off the table.  The trend is still up until proven otherwise.

David Hall

 The information and opinions contained herein comes from sources believed to be reliable, but are not guaranteed as to accuracy or completeness. The risk of loss in trading futures and/or options can be substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account. All funds committed should be risk capital. Past performance is not necessarily indicative of future results.

 This newsletter is not intended for dissemination to the public without prior approval from David Hall.