  We report on the results of a long term X-ray monitoring campaign of the
galactic binary LS I +61 303 performed by the Rossi X-ray Timing Explorer. This
dataset consists of 1 ks pointings taken every other day between 2007 August 28
until 2008 February 2. The observations covered six full cycles of the 26.496
day binary period and constitute the largest continuous X-ray monitoring
dataset on LS I +61 303 to date with this sensitivity. There is no
statistically strong detection of modulation of flux or photon index with
orbital phase; however, we do find a strong correlation between flux and photon
index, with the spectrum becoming harder at higher fluxes. The dataset contains
three large flaring episodes, the largest of these reaching a flux level of 7.2
(+0.1,-0.2)*10^-11 erg cm^-2 s^-1 in the 3-10 keV band, which is a factor of
three times larger than flux levels typically seen in the system. Analysis of
these flares shows the X-ray emission from LS I +61 303 changing by up to a
factor of six over timescales of several hundred seconds as well as doubling
times as fast as 2 seconds. This is the fastest variability ever observed from
LS I +61 303 at this wavelength and places constraints on the size of the X-ray
emitting region.
