Today

Today was the down day in what I believe will be a rally towards and beyong 14000. I made the most of today by taking positions in FCX and held AA and some AAPL. I did sell half of the AAPL position due to the reversal at even for the day around 2:30pm. It was a good move. I think FCX goes to 95 in the next week or so, and I believe AA has the potential to hit 40. I will probably halve the position around 38, with stops engaged at 36. There was no scalp trading today, although I did trade GS and X during the day, with an even result. The volatility has come down nicely over the past few days, with the VIX slighly higher today hovering around 22. I predict we will see a continuing decline in the VIX, and will test the 50 day support at 19.80 in the next day or so. A push through this support will support my theory of 14000 and beyond by Christmas, but if we get a bounce off the support, we may see another retest of the 12700 within the next month.