As a trader I am always faced with a tough decision when it comes to nagging suspicions. If one were to actually conduct a study about nag, one would probably learn that often it isn’t some higher power induced instinct; rather it is a psychological barrier between mediocrity and excellence. I cringe at the thought of how many times I have sold a stock because of a nagging suspicion the run was coming to an end, just to see it march higher another gazillion points. In my earlier days I would also suffered a few battle wounds jumping into stocks because of a nagging suspicion that a big bounce was coming. Even at this very moment, I am wrestling with a small but growing nagging feeling that the markets are due for a healthy correction.

Futures are jumping this am and at least right now it looks as if the pre-holiday, shortened, trading session may be filled with more of yesterday’s jubilee. As I mentioned in last night’s Tape Talk, for the most part the averages continue to look solid with the NASDAQ poised for a possible ramp after coming out of this high double bottom. Furthermore, the current light volume trading action has all the ingredients for a continued wall of worry should the averages break out, as bears will immediately point to suspect volume and Jr. traders, saying we should all take heed and head for the shelters.