Looking at the weekly scoreboard for the second quarter so far it's Bears: 2, Bulls: 0. Stocks declined again with growing concerns over Spain evident in the country's rising bond yields. A slower than expected Q1 GDP report out of China didn't inspire any confidence either. Now the U.S. indices are starting to break support levels.
We want to be defensive here. Readers will want to double check their stop loss placement. I am suggesting we exit our FDX trade on Monday morning. We also want to take profits and exit half of our position in the LVS and QCOM trades on Monday morning.
I have updated stop losses on: LVS.
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.