I realize this is starting to sound like a broken record but stocks are still extremely overbought. The S&P 500 index is up 16% from its July lows. The Russell 2000 is up 20%. We don't want to chase this move. Be patient. The market can't keep this pace for much longer. I would watch for a dip toward the 950 region for the S&P 500 index.
Currently we have ten 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
DISH - Dish Network Corp., trigger 16.25
ERJ - EMBRAER - Empresa Brasileira de AeronÃ¡utica, trigger $17.50
IGT - Intl. Game Tech., trigger $17.50
MEE - Massey Energy Corp., trigger $20.50
MICC - Millicom Cellular, trigger: $62.50
WLT - Walter Energy Inc., trigger $36.00
X - United States Steel Corp., trigger 37.50
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.