The market's trend is still up. It just took a few days to digest some gains and some news. Both bulls and bears could argue that stocks should have been a lot higher last week given the amount of good news that came out. While we still want to buy dips it is probably wise to trade smaller positions and tighter stops.
Currently we have fourteen stocks on our watch list.
BEAV - BE Aerospace Inc., trigger: $15.00
BG - Bunge Limited, trigger $61.00
BJS - BJ Services Company, trigger $14.00 or $17.10
CLF - Cliffs Natural Resources Inc., trigger 23.50 or 32.55
CNX - Consol Energy Inc., trigger $35.25
CRS - Carpenter Technology Corp. , trigger 20.50
ERJ - EMBRAER - Empresa Brasileira de AeronÃ¡utica, trigger $18.50
IGT - Intl. Game Tech., trigger $17.50
MEE - Massey Energy Corp., trigger $23.50
MICC - Millicom Cellular, trigger: $62.50
TEX - Terex Corp., trigger 15.00 or 18.25
WLT - Walter Energy Inc., trigger $36.00
X - United States Steel Corp., trigger 37.50
XIDE - Exide Technologies, trigger 6.50
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.