It looks like the January correction we've been waiting for has finally begun. Now that stocks are starting to reverse there is no way to tell where they will stop but traders are focusing on possible support near 1085 and the 1050-1035 zone on the S&P 500. A typical 10% correction would bring the S&P 500 back down to 1035.
Double check your stop loss placement to make sure you're comfortable with the amount of risk your taking. This past week BAC, BQI and RGLD were stopped out.
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.