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Welcome to November, everybody. It's tough to believe we're down to the last two months of the year, isn't it? Regardless, it's here, so let's see if we can finish up 2014 on a high note.

First and foremost, did you see JetBlue (JBLU) today? This was an idea I passed along to SmallCap Network newsletter readers back on October 16th after John Monroe over at the Elite Opportunity gave it to his readers a few days before that. It was up a rock-solid 1.7% today (around print-time anyway), but perhaps more important than that, it cracked a ceiling at $11.65 today and moved to a new multi-week high. From here, there's little else to pull it down or get in the way.

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Dear Japan,

Thank you. Your stimulus plans announced Friday morning put the U.S. market into high gear on Friday, getting us close to record highs. In fact, some of the major indices did reach new all-time highs. The result of your unveiled QE plans, however, really put our stock market in a pickle.

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For those of you keeping score, Thursday's action was the seventh bullish day in the past ten trading sessions. As of today's close the S&P 500 has gained 9.6% since the capitulatory low hit on Wednesday from two weeks ago. We figured there would be a bounce from there, but this advance has now exceeded all of our near-term expectations.

This isn't necessarily a good thing. While we love momentum as much as the next guy, as we've mentioned before, there's always a question of sustainability. It's possible for stocks to keep climbing after gaining nearly 10% in just two weeks. I looked back for several years though, and it doesn't happen very often... at least not without a dip first, to cool the trend off to a more palatable pace.

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It may not have been a move made with much zeal, and it may well be a move that falls apart beginning on Wednesday. But, the bulls cleared a major hurdle today, and that has to count for something... maybe.

We'll do our usual market thing in a second. Let's get the more important items out of the way first.

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We have to give credit to the bulls. Although the odds are stacked against them, they're still swinging, and kept stocks within reach of a breakout today. We're still not cleanly over the hump yet, and may never be with this particular effort. We have to keep an open mind about what could happen and is likely to happen from here, however.

We'll do that in a moment. The first thing we want to take care of now is a quick reality check about this steep decline in oil prices.