The markets opened lower this morning but quickly recovered most of that early loss and traded sideways until after the FOMC minutes were released. The language is pretty vague, but discussions of further quantitative easing were discussed as perhaps being required "before long". But traders grabbed that life line and bought stocks, assuming that QE II will not only sail, but have the desired effect.  Economists are divided, but many believe the effects on the economy will be modest. SPX traded up $4 to close at $1170, while RUT closed at $696, up $4. Trading volume also shot up across the board with a 13% increase on the NYSE and a 26% increase on NASDAQ. Trading volume in the S&P 500 stocks hit 3.6 billion shares, above the 50 dma.

My Oct condor continues to limp along; absent a market pull back, I will be forced to close the call spreads tomorrow. The Nov condor stands at a P/L of -$1,486 with delta = -$103 and theta = +$83. Another up day on RUT will necessitate some adjustments to this position.