The ECB announced another 239B in loan losses over the next 18-months for the EC. Futures dropped on news. What does this mean for us. If the recent trend holds where the entire market is under pressure, it's time to re-load on a few names. Our top buys are AAPL and C for now. I will continue to be a buyer of the 260/270 LEAPS whenever APPLE pulls back to below 250. C 5 LEAPS are the long trade for now...
C still isn't looked at heavily by the institutional investor, and even Cramer says you need to be in before they are. Anyhing under 4 makes the 4/5 Calls attractive...
Looking at Vodaphone VOD as a long trade as well, will be selling puts if I decide to pick the equity up. American Eagle is now breaking above 13 the 12.50 Augusts are making money.
Looking at RIG, lot's of negative pressure on the drilling world so it looks pretty well valued currently. Also, Natural Gas is gaining lot's of "big trader" attention as a long play as well.
Out of town for the week....
Happy trading...
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