The equity markets had a banner year with the major indexes stalling at critical resistance over the last two weeks.
We have 26 current positions as we head into 2018. We have had some great plays and some not so great but very few that were losers. I am recommending we close several positions and I put tight stop losses on others in preparation for the potential profit taking in January.
I have not recommended any new positions over the last two weeks and in retrospect that was the right call. The markets stalled at the highs and most of the leaders have begin to roll over. We do not want to buy a market top where option premiums are at their highs. I would rather buy dips and there is a good chance we will see one over the next two weeks.
For obvious reasons there are no new plays this weekend.