Holding Pattern.

Investors are in relax mode till the FOMC releases there statement at 2:15 est. This will produce a holding pattern on major market indices.

The Chart below is of GS, currently I have some buy writes on this stock in my income portfolio and in my managed account. The last four days were getting very hairy and my thoughts were for a test of 150. Now a test back to support would be healthy for the stock and not my positions. I decided to put on some more risk and I know this might sound crazy but I turned my positions into covered combinations. Meaning I own stock with a short call and a short put. Selling puts almost doubled my returns, as for a pull back I think we got it and we will start heading higher the rest of the week.