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Normally a period of market instability would be the time to add positions to the leap portfolio. This is not the case for me today. I am concerned we could see additional weakness and a break below our current levels could easily send us plunging significantly lower.

Our last two watch list entries from last week were triggered on the market drop and about the only stocks I would risk adding would be home builders and only if they drop substantially from their lofty levels.

I am adding TOL, DHI and RYL as potential entries but I hope we are not triggered. That would mean the rest of the portfolio was severely trashed. However, if funds need to take profits to raise cash they have huge amounts of stored value in the builders. Maybe we will get lucky.

Dropped Entries  
 
None
 
New Watch List Entries 
RYL
$60.39
Ryland Group Inc
Target $55.00
TOL
$73.44
Toll Brothers Inc
Target $67.00
DHI
$38.80
D R Horton Inc
Target $37.00

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Current Watch list 

PLAY: RYL - $60.39 Ryland Group ** Target $55.00 **

Buy 2006 $60 LEAP Call YRX-AL currently $9.00, target $7.00

Insurance put
Buy Apr-$52.50 Put RYL-PX currently $1.50

RYL Chart

PLAY: TOL - Tol Brothers $73.44 (Target $67.00)

Buy 2006 $75.50 LEAP Call YKW-AO currently $9.80

Insurance put
Buy March $65.00 Put TOL-OM currently $1.55

TOL Chart

PLAY: DHI $38.80 Target $37.00

Buy 2006 $40.00 LEAP Call YRI-AH currently $5.60

Insurance put
Buy Feb $35.00 Put DHI-NG currently $0.55

DHI Chart

Leaps Trader Watch List Archives