The market correction continues and we have seen a handful of trading candidates get knocked off our portfolio in the last few days. The recent lows have also triggered a few stocks off the watch list. I remain very cautious here. We'd like to see the S&P 500 hold the 1050 area but if concerns over Europe persist we could be looking at 1,000 or even 950 on the S&P 500 over the next several weeks to months.
If you do open new positions be sure to keep your position size small and reconsider using a tighter stop loss. I adjusted the stop loss on PEP and WMT.
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.