Late this afternoon, I sold the:
SOLD -1 VERTICAL RUT 100 AUG 08 720/730 CALL @4.25 CBOE, RUT MARK 713.41
IBD stated that today marked the change of a market in correction to a market in confirm rally.
I need to watch and see if the market follows through with this call and if that happens I need to reevaluate my positions.
Risk management:
Profit: 3.5 (will need Rut to drop about 8points)
Loss: Evaluate if close above 720.
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