Monday November 5, 2012

S&P 500 bounced off 1410 and moved slightly higher throughout the day closing at 1417.  I bought some put protection today for my bearish ETF in case of an incumbent defeat tomorrow and a republican rally.  All signs still point to a bearish move in the market especially with the rate on the 10 year bond ($TNX) moving down to 1.68 from 1.72.  Expect an uneventful day tomorrow ahead of the election tomorrow night.