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Look, I'm No Technician, But....

|Includes: Amazon.com, Inc. (AMZN), CAT

Hi everyone --

Does today's rally strike anyone else as a bit tired?  I realize we've gotten a nice pop, and my CAT calls (if you just chortled like I did, here's looking at you, kid) are moving up nicely.  Sadly, as I posted earlier today, my AMZN puts are getting crushed.  Ah well. 

I'm not a technician, but today's move just seems a bit less than enthusiastic.  Volume is heavy-ish in some names, but not so hot in others.  So are we just covering shorts?  If so, I'm definitely not panicking on my AMZN puts, and it may be time to take my CAT profits.  Pigs Get Fat, Hogs Get Slaughtered.  Plus I never met a profit I didn't like.

Sure, this could keep running, but what if it doesn't?  It's 1:50 EDT at the moment, and if this thing fades (like yesterday?) then we might be in for a long Monday.  Unless of course we get some blockbuster deal.  Let's see how we finish, in the meantime, I'm taking profits.

mfergusonus

Disclosure: Long CAT calls (har) and long naked AMZN puts