CSCO's strong earnings report appeared to energize the market and it opened strong this morning but the surprise (to me at least) was that it continued its steady upward march all day long.  I expected some traders to take profits toward the end of the session, given the upcoming unemployment report in the morning, but everyone appears confident that unemployment will rise only a little to 9.9% and that is apparently considered further confirmation that the worst is behind us. RUT ran up $18 to close at $581 while the SPX closed at $1067, up a little over $20. RUT is just entering a resistance level at about $580 to $585 while the SPX will be running into resistance at about $1070. If they break those levels tomorrow, then this correction may be over; if you look at the peak to trough move on the SPX, it was about 6%. Most market technicians would expect a move of about 10% for the normal correction...

My Dec $510 puts are out of the woods for now with a delta at 15. However, I may regret aggressively having rolled my call spreads down to 630/640 on Monday. The $630 strike feels a little too close after today's $18 run upward. A few days makes a big difference in this volatile market. My Dec RUT iron condor now stands at -$560, delta = -$43, and theta = +$104. Tomorrow should be interesting...