Biotech Poised To Rally

  • May 31, 2001
  • Dave Landry

Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
reversed Wednesday’s sell off and closed well. This suggests that its uptrend
remains intact. Continue to look for buying opportunities in calls and call spreads here.

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Banks
(
$BKS.X |
Quote |
Chart |
News |
PowerRating)
have held up very well on a relative basis as of late. This suggests that their
uptrend remains intact. Look for buying
opportunities in calls and call spreads here.

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For you OEX traders, tonight (Thursday) we
have a CVR 1 buy signal on the Market Bias Page. Look for buying opportunities
in calls and call spreads here but don’t overstay your welcome as the VIX is not
very overbought (see tonight’s Stock Outlook for more details).

Best of
luck with your trading on Friday!

P.S. Reminder:
Protective stops on every trade!

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