As we have recently taken out the highs on the year I continue to stick with my thesis that the theme for this market in 2013 is onward and upward. In a recent post I mentioned that I used the recent pullback when we had a spike in volatility to add some more positions. I am basically 95% invested in my IRA portfolio and will likely remain invested throughout 2013. I will however keep capital available in my trading account to make other trades as I see opportunity.
I think we likely continue marching higher until the SPY reaches its highs from back in 2007 at $157.52 before we see any meaningful pullback. At some point I will likely get some short deltas mixed in the bunch to offset my long directional bias as a hedge.
Good Luck Trading!
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