It looks like the year end rally might come to fruition.  As I mentioned in a previous post the ability of the market to shurg off the bad news and go higher is bullish.  However, there’s still no reason to think that we’ve seen THE bottom and the stock market is going no where but up.  Until more evidence surfaces this is still just another bear market bounce that deserves to get sold.  If you caught the bounce, consider doing some selling into the strength.  If you’re in a long only buy and hold type portfolio then you might want to consider putting on a hedge in the form of index put options or the SDS.