Worked:
Being long the NDX and RUT. 6% for the NDX as it broke out to new highs. I’ve been riding this trend for months. Around 32% gain off the bottom for my index trading account. RUT did 3.9% for the the leveraged funds fans.

XLF calls - May 27s. Excellent action today in the XLF. I was in XLF earlier in the week, but didn’t forget to stay with it. 69% gain taken on intraday option trade! Now I was in the 28s earlier in the week, but opted this time for the 27’s. Both strikes had big moves.

IWM calls - These rocketed up today. Yesterday I was bitching because I didn’t see the move I expected to happen after the fed announcement, well today it hit and hit big enough. Sold the calls for 16% gain this afternoon.

Sucked:
Forgot to publish my midday update. It now shows up under the breakout chart/post.

DAR, CPST, other alternative energy related stocks because of OIL drop.

==
I ended up covering my longs like I said I would yesterday. This run is far from over though. I’m waiting for a red close to get in. It could be a mistake. I’m notorious for selling early at this point, but if I have to buy at a higher price I’m buying at a higher price. If tomorrow is down in anyway, I want to get back onto the long side. Moreover, I’m a little concerned that tomorrow goes up more. We didn’t see window dressing yesterday, but we got some of it today and would not be shocked if it continued tomorrow just to shake out every last frigging bear that is hanging onto their bias by their last claw.

Did you see the INTC today? Semis are doing fantastic. I also profiled PHO over Clean Green Stocks and how its broken its weekly trend line and is quietly climbing. Also keep an eye on the emerging markets. They have all ripped and turned the corner also.

If you like this post, check these out too

• May 1, 2008 -- Midday Update
• May 12, 2008 -- The Oil Short, The QQQQ Calls, and CPST
• March 29, 2008 -- What Worked and Sucked Today 3282009
• March 27, 2008 -- What Worked and Sucked Today 3272008

Thanks for reading

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