- New Trades -
(July 07, 2013)
I am not adding any new LEAPStrader plays tonight. I do find the rally in the small cap Russell 2000 index to be encouraging. Yet I don't trust the bullish breakout in the S&P 500 index above its simple 50-dma. The low-volume, Friday session after the July 4th holiday may not reflect reality with so many market participants gone.
The Q2 earnings season will start soon and corporate results and guidance will help determine the market's direction. I would take a cautious "wait and see" approach to new trades over the next few weeks.
We are adding three new watch list candidates tonight and I've updated some entry point strategies just in case the market continues to climb.
Here is a list of stocks on my radar screen. These have potential to be LEAPS trades down the road if the right entry point presents itself:
AMZN, GD, NBL, PRU, WDC, DLPH, ADBE, ROST, AKAM, WSM, ETFC, AMTD, BBRY, ORLY, GRPN, DNKN, NOC, , ATK, TJX, CY, NKE, UA, CSCO, JDSU, CNQR, SJM, HSY, EA, EXPE, AXP, ANN, STX, CR, HPQ, DLTR, MRVL, MAT, UNH, WLP, CI,