The U.S. stock market reversed sharply last week thanks to improvement with the situation in Greece and positive surprises in some key economic data. Combine that with some end of quarter window dressing and it happened to be the right recipe for a +6% surge in stocks.
The rally this past week was truly impressive with widespread gains for five days in a row. Stocks were slicing through overhead resistance and shorts were running for cover. Low volume for most of the week only exacerbated the moves.
Stocks are now short-term overbought and probably due for some profit taking.
We saw BEAV hit our exit target last week.
There are new stop losses for CNI, DPS, and MON.
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 play or option position exited or closed this week.