Stocks are starting to look overbought. The S&P 500 has closed just inches above potential resistance at 1500. The small cap Russell 2000 is also dancing just above potential resistance at 900. After a four-week rally there are a growing number of equities that are overextended and past due for some profit taking.
CREE hit our bullish exit target.
MTW and SCHW both graduated from our watch list to our play list.
I have updated stop losses on: AIG, JNPR, VLO.
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.