Markets seem to be breaking to the upside, as we thought would be their bias. There is still no real strength to this move and the VIX has failed to make a new low thus far with the upside momentum in stocks.
STD gapped down below the gap-fill line we posted with the chart over a month ago. The stock retraced to our target fill zone and may have turned. We are holding the remainder of our position (50% left) with anticipated downside below the low clocked in during March '09.