This week looks a lot like last week. A few sectors have been able to extend their gains but we're starting to see some stocks begin to correct after the strong July rally. The S&P 500 is still under resistance. A dip toward the 950 level, which should now be support, would be seen as an entry point to buy stocks.
Last week the U.S. dollar sank to new lows for the year. This trend should continue and that will boost commodities, which should help the oil and mining stocks.
Currently we have nine stocks on our watch list.
BEAV - BE Aerospace Inc., trigger: $13.00
BG - Bunge Limited, trigger $61.00
CNX - Consol Energy Inc., trigger $30.50
ERJ - EMBRAER - Empresa Brasileira de AeronÃ¡utica, trigger $17.50
IGT - Intl. Game Tech., trigger $17.50
LNN - Lindsay Corp., trigger $33.50
MEE - Massey Energy Corp., trigger $20.50
MICC - Millicom Cellular, trigger: $62.50
WLT - Walter Energy Inc., trigger $36.00
Disclaimer: At any given time the author may have positions in any or all of any companies mentioned in the Leaps Newsletter.
--Position Summary Table--
Table lists Directional CALL or PUT/LEAPS only.
Insurance puts, if applicable, are not shown.
Red symbol/name represents a dropped play this week.
Jim's portfolio and updates has been included in the normal play updates section.