Utilities To Resume Slide?

  • January 22, 2001
  • Dave Landry

The banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating) seem to be finding support near their
recent lows. This action suggests that their uptrend remains intact. Look
for buying opportunities in calls and call spreads here.

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Although the utilities
(
$UTY.X |
Quote |
Chart |
News |
PowerRating)
were up on Monday, they still remain vulnerable. Look for
buying opportunities in puts and put spreads here.

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For you OEX traders, the VIX remains at relatively
low levels.  Continue to watch for buying opportunities in puts and put spreads on any
signs of a price reversal.

Best of
luck with your trading on Tuesday!

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

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