The recent trend of the market for the last week has put us in a very
difficult situation.Although the market is definitely overbought and is due for at least some form
of a pullback, even if only a minor one.
Unfortunately, the market doesn't do what we would like, and especially in the time frame that we would like it to.
Tuesday is going to be a critical day as 5 of our positions are in the money
anywhere from 2 points to as little as $0.01.
If the market does not cooperate with us on Tuesday ,and by that I mean at least
have a flat or a very negligible up movement, we will have to exit several positions
with a not so pleasant hit.
I may have to issue exit signals during the trading day, which I hate to
do as many of you are at work or have other priorities in life to contend with.
However, if we get a another move that potentially looks like a large up day. we will have to act and exit ASAP. Emails will be going out on some or all of our in the money positions,if that is the case,
depending on how the issues individually respond on Tuesday.
Just to bring you up to the current positioning of our spreads, here is a recap of all the eleven (11) positions we have to date and where they are trading as of the close last Friday, July 1.
As I have mentioned above, please be prepared to act on several positions if
the market does not take at least a pause on Tuesday.
If we need to act you will be alerted to the exit plans by email during