Well, that's quite a way to kick off a new year, isn't it?

I have been a completely broken record about the January rally for many weeks now, and I am so happy to see it happening. This marks the third day in a row of triple-digit gains on the Dow, with the tally of the past three days being 551 points.

Bears, this is exactly, exactly, exactly the kind of market we want to see………and more of it! Let's get up to anywhere between 9,800 and 10,000 on the Dow (I'm not sure how high it will climb). The percentage gains to be had on the upside are great, and the opportunity to reload our shotguns (at the right time) will bring back fond memories of September and October (Tim dabs away a tear..……)

I have hundreds of charts to look at this weekend, so I'll do some mombo post on Saturday. Thanks, ya'll!

OK, I admit it, I'm hungry for material today, because I'm too busy to come up with anything better 🙂 But here is a snapshot from MarketMatrix showing my current positions, the gains for the day, and – importantly – the stop price. Maybe you can get some ideas from this list. Ignore the special green highlighting on the symbols, since it just happened to be updating that quote when I took this snapshot; it means nothing special.

Well, my puts and shorts are getting blown up left and right, but the longs are more than making up for it. Last week's conjecture that energy was the place to be was definitely the right move.

Market like these benefit from portfolios which are ignored (except insofar as you update stops). I meddled quite a bit with my personal account this morning, and I'm not a cent better off now than I was yesterday. So – – – don't just do something. Sit there.

Well, my three portfolios are behaving true to form (from great to blah). My all-long IRA portfolio is kicking butt, up 5.63% today as of this writing. My big family account is doing pretty good; it's up, but it's so hedged that the gain isn't anything like the IRA. And my personal account is treading water, since it's basically 24 puts and a single long ES position.

For the heck of it, here are my top three gainers across all the portfolios; these are all in my IRA, they were all purchased in the past few weeks, and they're up between 40% and 60% since that time.

Well, my Russell 2000 puts didn't live long, as you can imagine. The market has really got a tailwind, with the Dow up 125 as of this writing. My energy longs are doing really well.

The key level to watch, as we all know, is 920 on the S&P. We're getting pretty close.