Worries over the situation with Greece are escalating again. Concerns fueled the market decline on Friday. Of course after a nearly six-week rally investors could have been looking for an excuse to lock in gains.
Stocks remain overbought and could easily see a -3% to -5% pull back. With stocks looking this tired I am not in a rush to add new bullish positions. It's a good time to exercise some patience, which is what LEAPS investors need to have (patience).
I am not adding any new trades tonight but this could also be a great opportunity to look at stocks we might want to buy on a dip.
Currently on my radar screen as potential bullish LEAPS candidates:
JPM, SCHW, AIG, SYK, NAV, LTD, BRK.B, ITRI, WFR, CREE, JDSU, NVDA, BWC, OMX, and FWLT