While we could be moving higher ahead of seasonal weakness, I am not buying the top today. With the Chief Bank of America equity strategist calling for a 15% market decline this summer I am not adding any watch list entries today. I would rather be buying dips than tops ahead of that seasonal weakness.
I put JUNO on the watch list last week with a $29.25 entry point that I expected to be hit before the drug trials were restarted. That restart came on Tuesday and shares spiked $8 on Wednesday to $35 to trigger the entry on a technical basis. In the future, PLEASE do not ever enter a new position on a gap higher or lower of more than $2. The option prices will be out of sight and we may never see the positions turn profitable.
New Watch List Entry:
No New Watch List Entries
NEVER enter a new position with a gap higher opening of more than $2. The option price you will pay will be ridiculous.
Stocks Dropped from Watch List:
No Watch List Drops
Active Watch List Play Descriptions:
No Active Watch List Plays