Daily Wrap

Today was really not very noteworthy in terms of the market.  After gapping down on the open the market set its lows just before noon and spent the rest of the day drifting higher with the last 5 minutes of trading providing a push.  The idea of hedging or even taking home a small S&P short on Friday  would have worked well but I don’t know that there was conviction in any such trade.  The first test of a hard sloped 20 day was my conviction trade and it never manifested. Stocks in the news today included Deckers Outdoor (DECK).  This name should…