We continue to whittle down the play list and we're taking money off the table. This weekend I've closed DISH and HOS early. Last week the plan was to take profits in DO and RAI at specific targets and dates. This weekend I'm also suggesting readers take profits in MDR, RIG, and TEX.
The market acts like it's forming a short-term top. I would expect more profit taking over the next week or two. If we get the S&P 500 to pull back toward support we can take another look at new bullish entry points. If an opportunity does present itself consider scaling into it a little bit at a time to limit your risk.
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.