Current Portfolio

Portfolio Comments:

The market's sideways consolidation has taken on a bearish tint to it. The S&P 500 has developed a clearly defined bearish head-and-shoulders pattern. It's so well defined that investors might try to fade it. Or there could be a rush to the exits if the S&P 500 breaks support near 880. It's a dangerous time to open new long positions. Be careful.

Currently we have six stocks on our watch list.

BEAV - BE Aerospace Inc., trigger: $10.50
CELG - Celgene Corp., trigger: 43.00
DBA - DB commodity index ETF, trigger: $21.50
MICC - Millicom Cellular, trigger: $50.50
PEP - PEPSICO Inc., trigger: $57.25
VOD - Vodafone Group, trigger: 20.75 or 18.25

Disclaimer: At any given time the author may have positions in any or all of any companies mentioned in the Leaps Newsletter.

--Position Summary Table--
Table lists Directional CALL or PUT/LEAPS only.
Insurance puts, if applicable, are not shown.

Red symbol/name represents a dropped play this week.

Jim's portfolio and updates has been included in the normal play updates section.