BUSH TAX CUTS EXTENDED

With the Bush tax cuts extended, the market could stage yet another rally. If we break above 1227 tomorrow in the S&P 500, start looking at buying calls on good uptrending companies. Many believed that if the tax cuts weren't extended, the market would have a big sell off going into the end of the year as traders booked profits to avoid paying higher taxes next year. Now that there isn't a need for these traders to dump stocks for tax purposes, the market will likely continue its move higher. If we somehow rollover here and start moving down, look at the 1172 area as a place to find support and start buying again. The market really needs a brief pullback which I hope would take place over the next week. The natural gas recommendations have done very well with APA and APC leading the way. If NFLX can get back up to around $200, there will likely be another short squeeze that could push it back up to over $210.