It's amazing the difference a week can make. The +7% bounce in the S&P 500 index last week has had a big impact on our portfolio. A lot of positions that were underwater two weeks ago are now back in positive territory. We did lose GLW thanks to some negative news on LCD glass volumes but RIG made the jump from our watch list to our active trade list.
The market's short-term trend is up but stocks are short-term overbought and the action has stopped right at resistance. There is a high chance of profit taking this week after last week's big rally.
I have updated the stop losses on BZH, HPQ, KBH, KFT, ROST, and X.
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.