Market Recap - Current Positions

The Markets opened relatively flat and remained that way throughout the day.  At about 2:30pm, the indices started to gather steam and rallied into the close after having been basing all day.  Didn't do much trading today except cash in my V (Visa) July 75 calls for 122% gain (from 1.30 to 2.89).

I am still currently holding positions in BANR and NXTM.  In addition, I initiated a position in KERX which has been in a downtrend forming a descending wedge for the past 2 months.  I am expecting an upwards break of the trendline, especially if the markets continue with the recent strength.

Target for KERX = 3.98+

I do still have some positions in $VXX and $GLD that were hedges that are basically worthless.  These are option positions that will expire now in July.

Have a good weekend!