Market keeps going up and not letting up

8/4

Being completely short, I'm beginning to feel the pain with the market's relentless move up since July 13th.

I failed to follow my stop loss rules. I've been expecting the market to pull back, but with each passing day. The market isn't pulling back.

Besides the less bad economic indicators, some of the recent moves has been due to asset allocations out of the treasuries and into the equities. Portfolio managers aren't paid to hoard money, so they must put the money into use.

Most of the major companies have already reported second quarter earnings. The earnings have been beating the low estimates.

I'm waiting for the unemployment numbers to come out Friday. If we don't pull back by Friday, I will have to exit and take the losses. If we don't pull back, August will be a very bad month. I increased my contract sizes, so most of my gains in the year will be wiped out. If we can pull back 10-15% between now and expiration in two weeks, I will be able to recoup most of the mosts.