Upward Trend Looks Fragile
We are not adding any new LEAPS trades tonight. In tonight's commentary and in the watch list I discuss how the market looks vulnerable to more selling pressure and our long-term (12-24 month) outlook is not that bullish.
Investors may need to take a more short-term approach to their trades and it might be time to ratchet up your stop losses or scale back on your position size to reduce risk.
I'm not giving up on new LEAPS trades but we might start taking profits sooner.