The stock market ended a three-week losing streak with a widespread oversold bounce. Most of that gains was from Monday's rally and the markets consolidated sideways the rest of the week. The four-week trend is still down. There is no way to tell if the oversold bounce will continue or if stocks will resume the correction lower. Or do stocks merely churn sideways waiting for the next catalyst to move them like the upcoming jobs report or the mid-June Greek elections?
More conservative traders may to scale back their position size and double check their stop loss placement.
I have updated stop losses on: BMY, NTES, and RAI.
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.