Option Investor
Watch List
Printer friendly version

Being Patient

I am impatiently waiting for this January rally to implode or at least for oil prices to implode so we can start targeting some oil positions for March. The various political tensions I outlined in the commentary above seem never ending and while oil prices are not going higher they are not going lower either.

Entering positions in non-energy sectors ahead of earnings could be catastrophic. We have never held over earnings at Option Investor and I really do not want to start now.

I don't want to hold over energy earnings either unless I have a substantial cushion. Energy earnings for Q4 are expected to be in the +46% range despite the price fluctuations we experienced. I am wondering if we could see something less than that given the various factors at work. That could produce a negative surprise if everyone is expecting energy to pull the S&P out of the fire once again.

Unfortunately, January is simply not a good time to be going long anything and we are already short the transports and housing sector. I know everyone gets bored with no new plays on the watch list but putting a play on the list with a target $15 away from the current price is also a stretch of the imagination. I have a couple like that but I don't want to embarrass myself putting them on the list until they get a little closer to reality.

Keep the faith and lets see how the first week of earnings plays out.

Dropped Entries


New Watch List Entries


Current Watch List


Leaps Trader Watch List Archives