The S&P 500 index managed to extend its gains to four weeks in a row but just barely. If you look at the weekly chart of the S&P 500 you'll notice that last week looks like a potential top. It could be time for some profit taking, which is a normal part of stock market cycles.
This past week saw SHW hit our exit target at $99.00. We also had our FXE put get stopped out.
Several of our candidates will report earnings this week. Readers will want to take another look at their stop loss placement or possibly consider some sort of short-term hedge.
I have updated stop losses on: CSX, DOW, EPD, FDX, LLY, SBUX, 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.