The bulls might be back. The market indexes are back above the 10 day MA and many are moving above the Tuesday high. These are all bullish signals from the market that we can't ignore. If you set stops on your trades, just follow that plan. If you didn't have stops on your put positions, you might want to get out of them or at least lighten up on your positions. I would hang on to GLD and SLV. Although those are down a bit right now, they haven't technically broken down yet...and the fundamental story is still in place for these stocks to go higher. You could also look at some solid companies to buy calls. Companies like CAT, CLF, CMG, AAPL, and WLT. The market could flip flop back and forth here. If you want to trade this market, you have to be prepared to switch directions when the price action tells you to do so. If a peace agreement is made in Libya, the Bulls could come roaring back. If it falls through, the Bears could take control again.
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