An analyst at Jefferies upgraded one of our positions today and we got a nice 5% spike in the stock.

As down days go it was another good one for us. Jefferies upgraded RIMM and the stock spiked +$3 to $62 and put it even farther away from out $55 strike price and took it out of range for an intraday dip to stop us out.

Amazon (-$4.09) and F5 Networks (-$2.30) were the biggest losers but they were well above our stops so no harm done.

I added some targets to exit on FTI, CREE and NOV.

If we get lucky and have a market recovery on some positive economics on Wednesday we might get an exit on those positions.

I am worried we could see some instability in the market this week but given the volatility I don't want to raise any stops. These triple digit opening gaps make it tough to keep stops close.

Keep your fingers crossed. We have the strongest relative strength stocks so just treading water here would be a positive for us.

Jim Brown

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