Semi Sonic?
The banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, appear to be
trying to rally out of a high level consolidation. Continue to look
for buying opportunities in calls and call spreads here.
The semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating)
have begun to pull back after forming a cup (or rounded bottom if you prefer).
Look for buying opportunities in calls and call spreads here.
The utilities
(
$UTY.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, rallied earlier in the day (a) but reversed to close poorly
(b). This suggests that their downtrend remains intact. Continue to look for
buying opportunities in puts and put spreads here.
For you OEX traders, once again, the VIX
dropped to 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 Wednesday!
P.S. Reminder:
Protective stops on every trade!