R.C. Market Report 10.31

• Market Trend: Neutral

• Market traded higher on low volume again. Nonetheless, to sneak in the first consecutive positive trading days of the month in before end of October, offers a glimmer of hope. Oil made a sharp move higher before their close, and Financial was the leading sector. So things are beginning to show signs of turning around. With that being the case, I still believe that market can go higher without rest. Since the rally will be built on sidelined cash (new buyers) coming in instead of stocktraders that take profit and reenter, this thing can pop at any time. I'd take profit on calls and reenter as we move up higher, but I'd be wary of playing any put plays for the time being. I can see traders returning Monday more upbeat, having survived one of the worst months in history.