Better than expected earnings results caught investors off guard and the market exploded higher for one of the best weekly performances in years. Now stocks are short-term overbought and investors left wondering if the earnings parade can keep the momentum alive. The key level will be overhead resistance near 950 on the S&P 500.
Currently we have six stocks on our watch list.
BEAV - BE Aerospace Inc., trigger: $10.50
CELG - Celgene Corp., trigger: 43.00
IGT - Intl. Game Tech., trigger 15.25
MICC - Millicom Cellular, trigger: $50.50
RAI - Reynolds American, trigger $38.00 or $42.50
WLT - Walter Energy Inc., trigger 36.00
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.