If iguanas can fall from Florida trees, the market rally can continue; and other ramblings

It's so cold, Iguanas are freezing and falling from trees in Florida, and many traders at CME left early! But the big play was in the morning as the SPX tested 1132 area again, then moved up 10 points. Maybe it'll gap up Friday but of course no guarantees. Since I'm still under the weather, I'll keep this brief, and just add, "the hair of the dog that bit" continued apace today as banks and real estate did well. Imagine! I have a feeling that could be relevant if we get that amazing "part 2" rally higher later this year that some forecast into May/August ...! For now, I've got numbers at 48.52 and 50-ish if the $BKX can push higher on this run.

Meanwhile I hope readers are keeping up with other, talented analysts, including Tony Caldaro, Terry Laundry at T Theory Foundation at http://www.ttheoryfoundation.org/, etc.

And below is some news traders are talking about (the cartoon isn't from the article, I don't know the source):

http://www.tradersmagazine.com/news/short-sales-sec-price-test-104881-1.html

New Short Sale Rules Imminent

Traders Magazine Online News, January 6, 2010

Peter Chapman

New short sale rules are on the way.

The Securities and Exchange Commission, after wrestling with the issue for nearly a year, is expected to adopt a price-test rule for short sales this month. Also, the U.S. Congress is likely to add at least three new short sale rules to the Securities Exchange Act of 1934 as part of its overhaul of financial services regulation.