Biotech Vulnerable
Even though biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) was up on
Friday, it still looks poised to resume its downtrend out of a big picture
topping formation. Look for buying opportunities in puts and put spreads here.
The semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating)
appear to be stalling out. Look for buying opportunities in puts and puts
spreads here.
Follow Up/Looking Ahead
The telecoms
(
$XTC.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, continue to rally. If you have profits here, you might want
to lock in a piece.
Volatility continued to implode on OEX
options. If you took any VIX related trades here, you might want to continue to
scale out.
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!