We are starting to see the rally stall but for a few select stocks the surge higher continues. Shares of INFY and RIG have continued to perform very well. We want to take profits in INFY and sell the 2011 calls. I would be very careful with BIDU and EMC, which have both formed bearish reversal patterns. IBM and LMT made the jump from the watch list to the play list. I'm updating a handful of stop losses tonight.
New stop losses for GLD, INFY, MCD, PEP, RIG,
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.