"You've Arrived, How Lovely!"

So it finally happened today. After the market did some thinking overnight and decided they liked the fed's stance enough to assume they will be on hold, we rallied. And as you can see by the below chart of the SPY, we finally broke and finished above 1400 on the S&P500. This should mean we go higher.(click the pic to enlarge)

I basically exited all but one position today. I did leave profits on the table but they reached my targets and I sold just as planned. The dilemma I had is now that they were reaching my targets, the S&P was breaking 1400 which meant there should be no stopping them now. I followed my rules, knowing I will have more opportunities and I plan to buy back in on dips of pretty much anything, such as AAPL, GS, RIMM.

I had to exit with losses too, SLB was a bust, I exited in the middle of the day before the close which made me lose more than I could have, but you never know. Apparently they are putting the oil services in with commodities and oil because it sold off hard. VIA broke back above 39, plus I wanted to exit because it was too illiquid, only lost 350, but still sucks. I cut ACH loose too because it fell below 42, I think it finished barely above it but I didn't like that it didn't participate in this rally, even with the FXI making gains. Plenty of other China stocks I can get into, but of course I am sure it will gap up tomorrow, haha. I need to work on getting slightly closer to my exit on my entries, because with decay I ended up losing more than my 2% on both ACH and SLB, in fact it was about 5% total combined, not good.

I entered a few new trades. I still have my WFR puts, which rallied today back to diagonal resistance, I considered doubling down but decided not to. I will need to learn to do this to really help my profits though I think. My new trades were June 90 calls on Visa(V), June 95 call on EWZ(brazil ETF) which only got 1 contract filled, then promptly went up, wish I had my full load on, oh well. Last was June 22.5 calls on NVDA.

Overall I ended up about 2.5% on the day. I finally broke above the resistance level in my account of 30k, however I gave that back when I took a day trade on the Q's with some puts. It was successful in that I had a plan and traded it and got out with a small loss of 200 when it showed me it still had strength and didn't want to fall.

It goes without saying I don't know what will happen tomorrow, but I am thinking maybe we see some profit taking, and I partially hope so as it will allow me to get into some other stocks that have ran up lately. If the S&P pulls back to 1400 I am going to buy some calls on the SPY I think. The tough thing will be keeping bearish plays to help balance my bullish bias. I am hoping this signals the start of the next bull market because that should make trading a bit easier and options cheaper in general.