Oil Service Vulnerable
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)
held up fairly well in spite of Wednesday’s sell off. Look for buying
opportunities in calls and call spreads here but wait for follow through to the
upside as many of the stocks "faked out" earlier in the day (see
tonight’s Stock Outlook for more details).
The major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating)
also continue to hold up fairly well. Continue to look for buying opportunities in calls
and call spreads here.
Oil service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating)
tailed higher but reversed to close poorly. This action suggests that its poised
to break down out of an inverted cup and handle. Look for buying opportunities in puts and put spreads here.
Looking Ahead
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)
looks vulnerable.
Best of
luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!