The markets had another lackluster, largely sideways trading day. RUT traded up in the last hour to close at $642 while the SPX traded up almost $5 to close at $1142. The dollar traded up strongly and that probably weighed on the market. The strong bullishness during the last hour appears to show confidence in the unemployment numbers due in the morning. It seems as though all of the talking heads and news outlets are singing the same song: something to the effect that we shouldn't expect good news; just less bad news will be welcome; the recovery will be slow, etc. So barring a large unexpected jump in the unemployment rate, the market should take the unemployment report in stride. It is a little bit of a concern when everyone seems to be in optimistic agreement; should we worry that a correction is near?

My short term Jan iron condor is still underwater at-$580, delta = -$91 and theta = +$145. The long term iron condor for Jan stands at +$340, delta = -$182 and theta = +$290. My Feb RUT iron condor stands at -$140, delta = -$51 and theta = +$94. Tomorrow should be interesting.