Oils Still Vulnerable/Lock And Load On OEX
The major oils
(
$XOI.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, still look vulnerable. Continue to look for buying opportunities in puts and put spreads here.
Oil Service,
(
$OSX.X |
Quote |
Chart |
News |
PowerRating), mentioned
recently, also still looks vulnerable. Continue to look for buying
opportunities in puts and put spreads here.
Follow Up/Looking Ahead
If you took trades in the OEX based on my
recent VIX discussion, you might want to lock in a piece on the open as
the market will likely gap lower.
Internet [$DOT.X$DOT.X], mentioned recently,
continue to implode on Friday. If you have profits here, you might want to lock
in a piece.
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) broke below key
support on Friday. This suggests that it may set up soon on the short side.
Major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) will likely set up
as a short on their first bounce.
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!