The days trade

I originally said this would be a one post per day kind of thing, but then I figured It would be good to review the day so here goes.

I was positioned well for the rally with calls. I didn't take any profits but I did hedge at the end of the day with an FAZ call spread.

I also covered most of my ipsu position because it has failed to rally on low volume during two huge up days.

I kept trading light today because I didn't see any good reversals. The set up I really like was a breakout of consolidation in KSS. I feel I managed risk well today, and hope I am set up well for tomorrow.

RIMM is a monkey wrench in the machine. I felt we would gap lower tomorrow, but with the way they are bidding that thing up, who knows.