The markets ran to new highs today. The Dow broke through the $12,000 target everyone has been watching, but couldn't hold it into the close. SPX closed up $5 at $1297, the highest level of this index since September of 2008. RUT rocketed up $14 today to close at $794, but is still below its 52 week high of $808 set last week. Trading volume in the S&P 500 was down a bit from yesterday at 3.6 billion shares, but remains above the 50 dma. Trading on the NYSE was up 3% and volume was up 5% on NASDAQ. New home sales were encouraging, coming in at 329k for December, up from 280k in November. The FOMC statement was released this afternoon, but there were no surprises, and consequently no effect on the markets. Interest rates remain unchanged and the current round of quantitative easing continues.

My Feb iron condor on RUT stands at a P/L of +$2480 with a position delta of -$12 and position theta of +$82. We will be establishing our March iron condor soon and may close the Feb position early and take that risk off the table.