Biotech Remains Strong
Biotech
(
$BTK.X |
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PowerRating),
mentioned recently, performed well on a relative basis on Thursday. It is
still set up as a low-level cup and handle. Look for buying
opportunities in calls and call spreads here but don’t overstay your welcome as
there is overhead resistance.
Gold and Silver
(
$XAU.X |
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is also set up as a low level cup and handle.
Follow Up/Looking Ahead
The VIX is getting stretched to the upside and
may set up for OEX trades soon.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!