Is It Sustainable?

That must be the question on everyone's mind.

One major metric I saw on CNBC today is that there are still over 10 million mortgages that are 'under water' - roughly 26% of the market.

The question is whether these people will continue to dig in their heels - or will some of them become foreclosures in the near future?

It seems my market top has come early and one thing I regret is not selling calls on more stocks when I had the chance.  This, of course, is in retrospect.  

My Roth IRA has increased circa +24% over the past three months and over +42% over the past six months after having dipped to record lows and effectively deemed a graveyard portfolio a year before.

If the market somehow continues to trend higher, I will continue to sell calls and puts.  But if it goes down, am I protected? 

As it stands today, my daily Roth IRA loss of -0.77% is negatively correlated with the broader stock market indices.

DJIA +0.63%
Nasdaq +0.59%
S&P +0.56%
Dow Jones Transportation Average +0.66%


Is this the basis for a cautionary tale or a buying opportunity?  

Only Bernanke can tell...