SPY QQQ IWM 5-11-13
The S&P 500 (SPY) was up 1.26% this week while the Nasdaq 100 (QQQ) and Russell 2000 (IWM) were up 1.29% and 2.18% respectively. The markets keep getting higher, with or without you.
Sectors 5-11-13
This week was another rotation out of safe sectors to riskier sectors. Industrials (XLI) and consumer staples (XLY) led to the upside while consumer staples (XLP) and utilities (XLU) underperformed. So far, the market strength is supported and markets are displaying risk seeking behavior.
PCLN TSLA LVS TSCO 5-11-13
SBUX DIS GOOG MA 5-11-13
Ultimately, the action of individual stocks is what matters most. In my opinion, above is a list of market leading stocks that are poised to continue higher. A ton more stocks have setup this week but these are the ones I like the best. I’m looking at short put spreads (credit spreads) or long call vertical spreads on these stocks. Of course, I’m waiting to enter these on breakouts.
I’m not ruling out a potential pullback since we’ve come so far, however, I’m not in the business of predicting because I simply do not have the tools and resources to do so. Doing what is working right now has worked well for me. Should the pullback come, I have my stops set and normally hedge with short weekly call spreads or long put spreads on the S&P 500 (SPY).
Options Trading
Quick Take On The Markets & Watchlist
SPY QQQ IWM 5-11-13
The S&P 500 (SPY) was up 1.26% this week while the Nasdaq 100 (QQQ) and Russell 2000 (IWM) were up 1.29% and 2.18% respectively. The markets keep getting higher, with or without you.
Sectors 5-11-13
This week was another rotation out of safe sectors to riskier sectors. Industrials (XLI) and consumer staples (XLY) led to the upside while consumer staples (XLP) and utilities (XLU) underperformed. So far, the market strength is supported and markets are displaying risk seeking behavior.
PCLN TSLA LVS TSCO 5-11-13
SBUX DIS GOOG MA 5-11-13
Ultimately, the action of individual stocks is what matters most. In my opinion, above is a list of market leading stocks that are poised to continue higher. A ton more stocks have setup this week but these are the ones I like the best. I’m looking at short put spreads (credit spreads) or long call vertical spreads on these stocks. Of course, I’m waiting to enter these on breakouts.
I’m not ruling out a potential pullback since we’ve come so far, however, I’m not in the business of predicting because I simply do not have the tools and resources to do so. Doing what is working right now has worked well for me. Should the pullback come, I have my stops set and normally hedge with short weekly call spreads or long put spreads on the S&P 500 (SPY).
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