Current Portfolio

Portfolio Comments:

The S&P 500 ended a two-week slide but gains are suspect. You could argue the index is building a bear-flag consolidation pattern. Thus far Q1 earnings results have been better than expected but in many cases traders are choosing to sell the news.

We're about to hit one of the busiest weeks for Q1 earnings season so we can expect more volatility. It's also the last full week of April. There is a chance that investors might continue this "sell the news" mood in an effort to front run the "sell in May" crowd.

BRCM and TIVO were stopped out. We closed FDX on Monday.

We want to be defensive here. Readers will want to double check their stop loss placement. I am suggesting we exit our BRK.B trade on Monday morning.

I have updated stop losses on: EBAY and KMB.

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.