The market is sinking on another week of disappointing earnings reports. High profile companies like Apple (AAPL) and Amazon.com (AMZN) issued cautious guidance going forward and helped sour investors enthusiasm for stocks.
Now the S&P 500 is hovering above support at 1400 while the NASDAQ tries to hold technical support at its 200-dma. The Russell 2000 index broke support at 820 and is also trying to hold its 200-dma. Stocks are arguably oversold with a six-week decline but there is no guarantee of a bounce.
CVX, EMN, KMB, MON, and TWX were all stoped out.
We closed our 2013 call positions on Visa last week (Oct. 22nd).
There were no stop loss changes tonight.
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.