Last week was definitely disappointing. Monday's bullish breakout over major resistance at 1100 on the S&P 500 failed to see any follow through. I'm hearing more and more market commentary about fund managers starting to play it safe as they try to hold on to gains going into the year end. Dollar strength is putting pressure on our commodity-related names (except for gold). My concern over the potential bearish head-and-shoulders patterns for the coal stocks in our portfolio has only gotten worse! More conservative traders may want to consider reducing their risk in these names or maybe an early exit.
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.