HAPPY MEMORIAL DAY

Hope everyone had a good Memorial Day weekend. We here in Utah awoke to snowfall on the mountains and early March temperatures. No barbeque this year. The market has continued its "melt up" over the last few days. The S&P futures are currently trading up quite a bit so it looks like the market will likely open up tomorrow. The key area to watch is 1344 on the S&P 500. If we move above this level, I think we can start to be more aggressive with our bullish trades. So many stocks have pulled back over the last few weeks. If we can move above 1344, I think that you can pick just about any up trending stock and make money. I still prefer spreads in this environment because I think that the upward move will be more choppy. If you don't know how to use spreads, try to buy more time on your option so that you don't get caught in time decay. Look at August or September expirations. If you do buy more time, make sure you use stops since those options will be more expensive. A move above 1344 would increase the probability for higher moves (perhaps to 1400), but not guarantee it. You still need to manage your money and manage your trade. Many of the stocks I listed last week have triggered "buy" signals. You can use some of those...although some of them have already moved pretty far like NFLX (up about $20), COG (up about $3), and VMW (up about $5).