With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal. The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.

  

Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks. The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.

The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they will support a short-term extension. Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around. Since its last move down at the turn of the year, the RSI indicator has been very bullish and I believe it will remain that way. The move is very strong and it is just below the over bought position at 69. Momentum continues to move up so I would not be surprised if it does become over bought this week. But I do not believe this will cause a pull back just yet.

Markets are closed Monday for the Martin Luther King holiday. There are just a few economic reports, including existing home sales Tuesday, weekly jobless claims Thursday and new home sales, on Friday. President Barack Obama is inaugurated Monday.

Richard Bernstein, CEO of Richard Bernstein Capital Management, said he expects the debt ceiling and budget issues to be resolved better than many expect. As for Congress, "I think public opinion is getting to the point where the debt limit thing will solve itself," he said.

This week I released the first attempt to Automate Fast Money Trading using IB. I was hesitant to attempt this because I feared traders would not understand and over trade. Full instructions can be found in your DROPBOX on how to set the trading tools up for use.

So how did SLOW MONEY OPTIONS do for the week?  Weekending 1/18/2013  Initially announced 2 trade recommendations on Thursday.  On the  AAPL trades I managed to get a 50% on the call spread and a 15% on the put spread.   Later the same day I sent email to subscribers that I was closing my call with a profit and suggesting selling the 520/525 call @ .20 cr. Remember it is not how you start the trade but rather how you finish the  trade.  Do you have these rules memorized yet or at least written down in you Slow Money Options Traders Note Book? 

Remember always do the more conservative spread is the reason that I give you choices.  What I do is take all my recommendations just split the money between choices. You can trade just enough to give you an extra days results of trading or trade enough to give you a weeks worth of trading.  The choice is yours take responsibility.

I am trading weekly options to help you grow your portfolios a little each week. We are either making money or not losing money.  Thank you for letting me serve you, I consider it a privilege to work with each of you.  I strive to make a successful trade one week at a time.  Your results may vary. 

 Are you making money? If not why not trade with me. Remember the goal is to make money NOT lose money . . . Duh . . . . . . . Take a look and see how Slow Money Option Trading went https://docs.google.com/spreadsheet/ccc key=0AjgjBJLwH3rdERid3A0RE1GRFlyaHB0S0VxbHc0Vnc&authkey=COb7xdMJ

Remember if your not a paid up member of the Fast MoneyTradingTeam you will not get the weekly Slow Money Option recommendations. Yes, I expect to publish Wednesday,Thursday or Friday my weekly option trade to the paid up members.