The bulls refuse to give up and stocks have rebounded sharply back toward their 2013 highs. At least the big cap indices have with the S&P 500 and the NASDAQ testing resistance. The small cap Russell 2000 is playing catch up.
The trend of slowing economic data remains a serious threat to further market gains. I would be cautious here. Investors may want to scale back their positions and take some money off the table.
AIG hit our bullish exit target. We closed CL on April 23rd at its closing high for the week (we were fortunate).
I am suggesting we exit our SCHW trade immediately on Monday morning. We also want to exit our WMT 2014 calls on Monday morning.
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.