We are now once again whigging out on whether our drug dealer Ben Bernanke is going to give the market its fix, or we start going on our methadone treatments. My personal view is they never taper as the patient is so dependent on their POMO doses it would cause a seizure in the markets.
The Fed is ultimately a political entity and causing a market crash during Christmas, while the incumbent President is weakened and on defense, and not wanting another thing to deal with, doesn't seem to me to be the brightest thing to do for their survival. Note Yellen is not confirmed yet, coincidence, I think not.
However, I could be wrong, so as I am buying UVXY puts for Week4 December (and will add if Monday or Tuesday is higher), I will buy some SPY puts expiring on Friday if the market is flat going into Wednesday morning.
Otherwise I am not adding anything new for this year and will let stops run their course on other current holdings.