Over the last week, I opened a new Forgotten Profits trade with the DIA April 179 put. I’m hesitant to really go long new trades at the moment, as the indexes challenge massive overhead resistance just above 18,000.
If we fail here, we could fall back to the 200-day moving average, as we’ve seen happen many times in the past.
I do have my eye on a few opportunities, though. But I don’t want to issue them at the wrong time, and watch the market fall apart as it did this morning. Please stay tuned for those trades.
Also, I’m recommending that you sell to close the SNY June 47 call. After buying at $2.75 on November 14, 2014, it now trades around $4. It’s best to take the gain now, as the stock begins to look a bit toppy.
Good Investing,
Ian L. Cooper
Forgotten Profits