It was a rocky week for stocks. The S&P 500 plunged toward support near 1,250. The NASDAQ dipped toward the 2600 level. The Dow Industrials fell under the 11,600 mark intraday. While equities are seeing an oversold bounce there is no guarantee the correction is over. Investors should stay defensive consider all the uncertainties in the market. Japan's nuclear troubles, new developments in the Libyan civil war, and growing violence occurring at Mid East protests are all potential stumbling blocks for stocks. Hopefully the Japan situation will show improvement soon. The U.N.'s involvement might speed up situation in Libya for better or for worse. We'll have to wait and see how that pans out.
We did see APA hit our stop loss last week. KEY and MON graduated from the watch list to our play list. HUM has a new stop loss.
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 play or option position exited or closed this week.