Editors Note:

The market is at a pivotal point with indexes mixed and recent gainers starting to fade. S&P futures are down -3 points and the Dow and S&P only fractionally increased their gains. The small cap stocks began to weaken and there are headline risks this weekend and all next week.

I tried to find some put candidates but everything on the short side is still showing a positive uptick over the last several days. Nothing I found looked like a successful put opportunity. I am really hesitant about adding new longs ahead of the weekend where the event risk is going to be high. I expect profit taking into the weekend. There are times to be aggressive and there are times to be patient. I recommend being patient. We have a lot of successful longs and can afford to wait for a new buying opportunity to appear.

If you just have to play something I would add to the IWM put position for a short term trade.



NEW DIRECTIONAL CALL PLAYS

No New Bullish Plays


NEW DIRECTIONAL PUT PLAYS

No New Bearish Plays