Tech and Banks are leading the market. If banks continue to lead, market may go higher another 2-3%. I am expecting a mild pullback before another leg of a market rally. On an intra day basis, market is showing strong and hardly any pullback can sustain. Greece is the likely news for the next couple of days.
After closing GS puts for a nice gain, and adding a position on the long side, portfolio is evenly balanced. Two positions are in the money, and other two are at a loss. Overall, today's trade was an attempt to improve the likelihood of weekly gains after rolling-over loss making positions from the previous week.
NFLX looks interesting speculative play. Banks are overbought, but aren't giving up gains. Large BAC calls are bought by speculators. There are several stocks on my watch list. Due to lack of technical support and resistances, my move will be conservative with the objective of preserving capital.
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