- New Trades -
(July 28, 2013)
I am not adding any new LEAPStrader plays tonight. The fact that traders bought last week's dip is short-term bullish. I would not be surprised to see the S&P 500 breakout past 1700 soon. However, the FOMC statement, the U.S. Q2 GDP estimate, or the jobs report this week could all sabotage the market rally. Combine that with overbought conditions and the worst two months of the year for stocks (August & September) and I'm not enthusiastic about chasing market highs at the moment.
Be patient. The market will see another correction and that will make a big difference to the success of any new LEAPS trades.
Here is a list of stocks on my radar screen. These have potential to be LEAPS trades down the road if the right entry point presents itself:
HAL, FRX, WHR, CBI, COST, BHI, UTX, RRC, TSCO, RF, SCTY, CL, V, DG, MRK, MYL, TIF, LLY, JBHT, GILD, BAC, BWA, BDX, DD, GLW, ABC, COF, HAIN, PEP, GM, JNJ, SBUX, XOM, CVX, GD, NOC, CLX, LMT, LLL, DLPH, AKAM, ETFC, AMTD, SCHW, MS, CS, GRPN, DNKN, KKD, TJX, UA, HPQ, HSY, DLTR, KR, SYK,