Update: May 22, 2017

| May 22, 2017

May 22, 2017

 

Portfolio Update

It’s been an ugly few weeks in the market.

We’re in a choppy range with the sell in May crowd squashing any rallies we might get.

I’m still waiting for the market to break one way or the other.

News from the White House is pushing the markets (no surprise there)… and the summer slump is here.

Watch for a trade next week!

Let’s look at the portfolio…

 

Portfolio Highlights

Just a quick note:  We won’t update every open position every update.  I try to focus on the positions that have some significant news or price movement.

  • MT June 16 $10 Calls… IMPORTANT, the company did a reverse split and rolled together a bunch of its outstanding securities. Most everyone should have been OUT of the trade already… If you still own this option, I’d exit to conserve capital.
  • The bank trades:  JPM, C, and BT… We’re not seeing the rally we want in the bank stocks.  I’d take money off the table here… Everyone should consider exiting.
  • KBH and BZH… Our protective puts are good insurance… if we see a market swoon in May or June, these could jump in value.  Keep holding.
  • F & GM… Our protective puts are good insurance… if we see a market swoon in May or June, these could jump in value.  Keep holding.
  • AVY & OI… Hold tight.
  • HLT & SIX… Nothing new… yet.

 

Category: AOA Updates

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