The markets traded up strongly on increased volume today, apparently on the conviction that central banks will come to the rescue of all of these debt-ridden countries. That doesn't make sense to me, but we'll see. SPX grew $14 to close at $1343 while RUT tacked on $9 to close at $771. Over 3.2 billion shares of the S&P 500 stocks traded today and trading volume on the NYSE was up 17%. Trading on NASDAQ increased 20%.

VIX shaved off less than a point to close at 21.1%; so the markets may have been up strongly, but fear is still at pretty high levels.

The Greek elections are Sunday and preliminary assessments look like the leftists who wish to repudiate the bail-out agreement are in the lead. I find it hard to imagine that the markets are going to find anything to be bullish about Monday morning. Regardless of what happens in Greece, nothing will be definitively settled by Monday. But SPX has had two strong days and broke through resistance at $1335 to close at $1343 today. So many people are more optimistic than I am.

SPX settled at $1336.47 and RUT settled at $762.27, so the spreads of my June iron condor on RUT at 690/700 and 880/890 expired worthless for a gain of 11.4%. This brings the year to date record for the Flying With The Condor™ to 29.4%. By contrast, the S&P 500 stands at a gain of 7% for the year. The July position at 610/620 and 850/860 stands at a P/L of +$1,660 with delta = -$22 and theta = +$63. I am glad those July put spreads are far OTM, because I am worried about this market next week.

But it is now time to leave the market behind. Focus on your family and what you should be thankful for and enjoy the weekend.