Tuesday Notes - One ...

6:00pm And then there was one.

So is this how it ends? A closing afternoon trend setting up the infamous morning after trend oscillation sequences? A morning pattern that has accounted for a good chuck of this year's Bamboo trunk? Could there be one last trade setup before Old Man Time (2008 version) officially leaves the stage?

First things first: In terms of today's trade, I continued to take it light (582 contracts ... a.k.a. tiny), nibbling from the long side with the VIX and five minute trends at our backs in the morning for a nominal chip gain of just over +$1K. And while volume was "slightly" better than yesterday, that's like saying Brett Favre had a better game last week than the week before. At this end, my interest remained luke warm in light of the low volume, sporadic pace, and complete lack of trader emotion as evidenced by the VIX which could actually tick under 40 in the morning. So we'll tip our hat to the investors and swing traders long the market today (we can probably count those days in 2008 on one hand) and get ready for one last round.

And now all eyes turn to tomorrow, and my goal is simply one or two strong sequences before ending the 2008 race once and for all. It's been quite a while since we had the closing afternoon trend to set up the morning trade, so tomorrow should provide one last bite at the apple ... assuming -- and this is key -- that there are enough traders active in the market tomorrow who are either stuck with short positions or ticked off at missing the last 15 minute 8-point climb.

This market actually reminds me a bit of the early fall, as traders had to make a mental transition to record volatility, except on the flip side as the same traders try to make the transition to a rather unemotional creeper market without inflicting too much damage on themselves as the market changes yet again.

And when the bell rings at 4:15pm tomorrow, I'll post my final thoughts on the year ... much of which I wrote last night as I reflected back what was a historic year in many ways. It will be a very special time of personal reflection for me, and I hope it will be inspirational for all who have joined me on this journey.

Yet until then, there's one more step to take. In many ways, tomorrow will just be another trading day. For some, it will be an important portfolio window dressing day which typically accompanies the last day of the quarter and year.

For one trader, it will be the culmination of a decade's worth of preparation and 366 days of sweat and toil.

I'll see you after the bell.