Matthew J Goldseth's  Instablog

So…my last market prediction was a bit too cautious.  We’ve had quite a rally since I expressed some remaining bear sentiment in mid April…can’t always be right!  I’ve been slowly conceding the bear mentality, but remaining cautious with covered calls as a hedge just in case!  However, last week, I took some gains and the stocks I held are no longer covered. Today was a further confirmation of optimism as markets surged on strong volume and the S&P pierced the 200 day moving avrage for the first time in over a year.

Pontificating on the market’s current impressive rally, some experts are calling it the start of a new bull market while others maintain it’s just a bear market rally. Bull, bear…I don’t care, I just won’t be a pig! Time to lock in some gains.