- New Trades -
(November 02, 2014)
The stock market rebound has surely surpassed all expectations. The market has gone nearly straight up. Depending on the index you look at the stocks are up +10% to +12% in just the last twelve trading days. We've gone from oversold to overbought. The major U.S. indices are at or near new all-time highs or in the NASDAQ's case, a new 14-year high.
The market's strength is without a doubt encouraging if you're bullish on stocks. Yet that does not mean we want to launch new bullish positions tomorrow. LEAPS investors need to be patient. That means we also need to be patient with our entry points.
We just entered the best six months of the year. The U.S. remains the most attractive investment as money around the globe looks for safety and growth. That's good news for us.
I am not adding any new trades tonight be we are adding buy-the-dip entry points on AAPL, CELG, and GD in tonight's watch list.
We do want to take advantage of the market's next pullback.