Paper View: All Time Lies?

One would expect my portfolio to continue to get pummeled since I'm decidedly a semi-bear, but I've been having a sublime time today as both my SBA and my Roth IRA reversed course and started trending higher even as I took profits on my UVXY calls and my BAC shares.  Closing volume continues to be extremely low: 60% of the 10-day average on the SPY and 57% of the 10-day average on the DIA.  Topping it off, we've got the oft-cited Dow Jones Transportation Index closing in negative territory at -0.42%.  Are we setting ourselves up for a made-for-television edition of Paper View: All Time Lies?  

Before the conviction bulls jump on me, the market can admittedly tilt either way and I'm more or less positioned for action in either direction.  Still, gains aren't real until you take profit, so relying on the paper view does no one any good.  One of these days, profit-taking will prevail again, but I hope to the Good Lord that it'll be before my puts expire.  Since I'm not yet a Level IV trader, I'm watching the options chains for signs of the more experienced naked call sellers to jump onboard.  


Up tomorrow: 

US Trade Balance
US Unemployment Claims
US Bank Stress Test Results

Friday:

US Non-Farm Payrolls
US Unemployment Rate


+1.23% SBA
+0.76% Roth IRA

+0.30% DJIA
-0.05% Nasdaq
+0.11% S&P 

-0.07% FTSE
-0.26% Eurofirst
+2.13% Nikkei
+0.90% Shanghai

-0.46% WTI
-0.51% Brent

+0.28% Gold
+0.30% VIX
-0.42% DJT