MEMBERS AREA
Do not risk more than 5% of your trading account on any one trade but do try to take ALL of the trades. Please remember, ALL “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any tradesor “Exit Orders” in your brokerage account unless we list one. We will send out a “Profit Alert” or “New Trade” if we want you to close a position OR if a new trade comes out. Otherwise, follow instructions at all times in the 9am and 1pm updates. Also, we will usually give you a heads-up if we think we are going to send an email outside of these time frames. Closed Trades for 2013: 107-53, including the Weekly Wrap that is 34-3 for 2013 (78-5 since 2011).
11:45am (EST)
Skyworks Solutions (SWKS, $25.79, up $0.20)
October 26 calls (SWKS131019C00026000, $0.80, up $0.05)
Entry Price: $0.75 (9/19/13)
Exit Target: $1.50
Return: 7%
Stop Target: None
Action: Shares traded to a high of $26 on Friday before closing at their low for the session. They are still in a solid uptrend with support at $25. We are looking for a run past $26.50 this week that should get $30 in play. We could exit the trade on a close below $24.50 and the 100-day MA.
Rackspace Hosting (RAX, $51.60, down $2.06)
October 55 calls (RAX131019C00055000, $0.90, down $0.50)
Entry Price: $1.10 (9/17/13)
Exit Target: $2.20
Return: -18%
Stop Target: $1.10
Action: Our Stop Target isn’t a Hard Stop although some of you may have exited the trade already. We said we would give the trade time to work as long as $50 holds so let’s see how we close.
JC Penney (JCP, $12.38, down $0.58)
October 12 puts (JCP131019P00012000, $0.50, up $0.12)
Entry Price: $0.28 (9/11/13)
Exit Target: $0.60
Return: 79%
Stop Target: 25 cents
November 12 puts (JCP131116P00012000, $0.90, up $0.10)
Entry Price: $0.65 (9/11/13)
Exit Target: $1.30
Return: 31%
Stop Target: 65 cents
Action: Close HALF of the October puts at current levels and a QUARTER of the November puts at current levels. Our neat-term target is $11.50 but we want to lock-in some profits with today’s drop to $12.50.
Other 2013 Portfolio OPEN positions (4): These are trades that are still open in the portfolio but are down over 50%. They have longer expiration dates and are on “hold” but are not worth mentioning until they turn around. This means we would not open any new positions. We are still keeping track of the trades and we will record the results, accordingly, when we close them or if the options expire. Click on the 2013Portfolio link in the Members Area to view ALL open/ closed trades.
Sony October 25 calls (from July 2013) – HOLD
eBay October 45 puts (from September 2013) – HOLD
Microsoft October 30 puts (from September 2013) – HOLD – We could bring back coverage of this trade soon as shares fell 2.5% on Friday. The puts are at a dime and we still expect a drop below $30 is coming.
Jos. A. Bank Clothiers October 35 puts (from August 2013) – HOLD
WATCH LIST SECTION
These trades are NOT recommendations. They are trades that we like but have not added to the portfolio as an official recommendation because of market conditions or because we are waiting for better entry prices. We try not to have more than 12-15 open trades at any one time which is why we created a Watch List. We will not list entry prices because these stocks are on the verge of breaking out or they could sell off but these are the trades we are watching as new candidates.
We will update this section in the morning.
MEMBERS AREA
Do not risk more than 5% of your trading account on any one trade but do try to take ALL of the trades. Please remember, ALL “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any tradesor “Exit Orders” in your brokerage account unless we list one. We will send out a “Profit Alert” or “New Trade” if we want you to close a position OR if a new trade comes out. Otherwise, follow instructions at all times in the 9am and 1pm updates. Also, we will usually give you a heads-up if we think we are going to send an email outside of these time frames. Closed Trades for 2013: 107-53, including the Weekly Wrap that is 34-3 for 2013 (78-5 since 2011).
11:45am (EST)
Skyworks Solutions (SWKS, $25.79, up $0.20)
October 26 calls (SWKS131019C00026000, $0.80, up $0.05)
Entry Price: $0.75 (9/19/13)
Exit Target: $1.50
Return: 7%
Stop Target: None
Action: Shares traded to a high of $26 on Friday before closing at their low for the session. They are still in a solid uptrend with support at $25. We are looking for a run past $26.50 this week that should get $30 in play. We could exit the trade on a close below $24.50 and the 100-day MA.
Rackspace Hosting (RAX, $51.60, down $2.06)
October 55 calls (RAX131019C00055000, $0.90, down $0.50)
Entry Price: $1.10 (9/17/13)
Exit Target: $2.20
Return: -18%
Stop Target: $1.10
Action: Our Stop Target isn’t a Hard Stop although some of you may have exited the trade already. We said we would give the trade time to work as long as $50 holds so let’s see how we close.
JC Penney (JCP, $12.38, down $0.58)
October 12 puts (JCP131019P00012000, $0.50, up $0.12)
Entry Price: $0.28 (9/11/13)
Exit Target: $0.60
Return: 79%
Stop Target: 25 cents
November 12 puts (JCP131116P00012000, $0.90, up $0.10)
Entry Price: $0.65 (9/11/13)
Exit Target: $1.30
Return: 31%
Stop Target: 65 cents
Action: Close HALF of the October puts at current levels and a QUARTER of the November puts at current levels. Our neat-term target is $11.50 but we want to lock-in some profits with today’s drop to $12.50.
Other 2013 Portfolio OPEN positions (4): These are trades that are still open in the portfolio but are down over 50%. They have longer expiration dates and are on “hold” but are not worth mentioning until they turn around. This means we would not open any new positions. We are still keeping track of the trades and we will record the results, accordingly, when we close them or if the options expire. Click on the 2013Portfolio link in the Members Area to view ALL open/ closed trades.
Sony October 25 calls (from July 2013) – HOLD
eBay October 45 puts (from September 2013) – HOLD
Microsoft October 30 puts (from September 2013) – HOLD – We could bring back coverage of this trade soon as shares fell 2.5% on Friday. The puts are at a dime and we still expect a drop below $30 is coming.
Jos. A. Bank Clothiers October 35 puts (from August 2013) – HOLD
WATCH LIST SECTION
These trades are NOT recommendations. They are trades that we like but have not added to the portfolio as an official recommendation because of market conditions or because we are waiting for better entry prices. We try not to have more than 12-15 open trades at any one time which is why we created a Watch List. We will not list entry prices because these stocks are on the verge of breaking out or they could sell off but these are the trades we are watching as new candidates.
We will update this section in the morning