Things are looking up (again)

Perhaps – as some analysts are suggesting – last week’s market strength was only the result of end-of-quarter “window dressing” by fund managers, but it was enough to reverse the weekly trend status of all the major indices back to positive. In any case, this coming week’s action should go a long way toward confirming whether the rally is the start of a move to new 52-week highs, or simply a set-up for another decline – an event that certainly wouldn’t be unusual for the month of October.

In the meantime, I’m continuing to place limit orders to sell puts on selected stocks based on possible short-term downside price targets. The following table lists some of the strongest performers on my watchlist, along with the approximate downside price levels at which I would consider selling puts if given the opportunity:

I’m also continuing to watch several beaten-down “value” stocks for opportunities as well:

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