As the Dow Industrials break out to new highs for the move, a review of the leaders having an impact on the average show that while Boeing and Caterpillar, the few real industrials in the average are up 3 to 4% but I couldn't find any stocks that were breaking out as the Dow was, to the upside, except Merck.
Is the health care revision really dead? Or is it that the big Pharma will make out like bandits in any changes made?
With the October, at-the-money 32.5 calls only 1.20, it's worth a shot in my book. Yes, the market rally is totally unfounded in my book. I'm still looking for a return to 6,600 but what the hell, a few hundred here or there will not hurt my years performance should I lose. If the rally continues though, a position like this could make quite a few bucks.
I'm throughing caution to the wind as the market's strength seems to be picking up as the week closes out. Don't forget, today is options expiration day and stuff happens on these days. But my statistical numbers show continued market strength. You got to go with it until proven wrong.