The markets opened in the red this morning, traded back into the black and then traded back down until about 2 pm ET when a rally developed and ran steadily into the close. SPX closed up $1 at $1512 while RUT gained $3 to close at $911. VIX dropped about a third of a a point to 13.4%. Trading volume dropped back down today, with 2.6 billion shares of the S&P 500 stocks trading. Trading volume on the NYSE decreased 2% and volume on NASDAQ declined 7%.

As I watch CNBC, it seems that everyone is now talking about a pullback or correction. Hmm... The market usually does its best to confound the majority opinion. Maybe this bull still has legs (whether it makes sense or not).

My Feb iron condor on RUT remains roughly at break-even with delta = -$169 and theta = +$260. I find it interesting that we are not being subjected to the incessant "sky is falling" chant in the media. As the fiscal cliff was approaching, one would conclude the end of the world was upon us. But the country's debt continues to spiral out of control, the President denies we have a spending problem, the economy continues to sputter, and we can't even muster enough responsibility to pass a budget.

But some of you connoisseurs of fine literature may recall Alfred E. Neuman's wise words, "What - me worry?"