Stocks are seeing a three-day rebound back toward their highs!
A week ago the market was looking pretty fragile and vulnerable to a sell-off. The major indices plunged on Tuesday, marking the worst one-day loss this year. Yet there was no follow through lower. Maybe it was enthusiasm over finally seeing Greece get their bond swap done. Whatever the reason traders bought the dip again and now the S&P 500 index and the NASDAQ are retesting their recent highs. Even the small cap Russell 2000 index has seen a strong rebound.
The market's widespread sell-off on Monday and Tuesday did hit some stop losses and we lost CIEN, MRVL, ONNN, and X.
I have updated stop losses on: AGN, AKAM, and SBUX.
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.