Biotech Still Vulnerable?
The banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating)
still look
like they have the potential to rally out of a pullback. Look for buying
opportunities in calls and call spreads here but, as always, wait for follow
through.
Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating)
looks like it has the potential to resume its choppy uptrend. Look for buying
opportunities here but stick with the strongest issues as many in the sector
remain mixed.
Although
the biotechs
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) were up again on Friday, they still look
vulnerable. Look for buying
opportunities in puts and put spreads on any resumption of weakness.
Follow
Up
Insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, continued to implode on Friday. If you have any
trades here, you might want to continue to scale out of your position.
Best of
luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!