Oil Service Pulls Back
size=”2″ face=”Arial, Helvetica”>For those of you planning
to attend the TradingMarkets2000 First Annual Traders
Conference at the Venetian Resort, Hotel & Casino in Las
Vegas on October 13-15, I’ll be speaking on Saturday
afternoon following Jay Leno. I’ll also be at the cocktail
party Friday night. Sign up soon, as space is limited.
face=”Arial, Helvetica”>Sandisk
(
SNDK |
Quote |
Chart |
News |
PowerRating), on the
From Highs List, may present an opportunity for covered
calls. You can buy the stock for 83 1/2, and you can sell
the October 95 calls for 5 1/8. This represents
approximately a 20% return (more than 140% annualized, based
on 51 days until expiration) should the stock be called
away.
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Biotechs
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), mentioned
night, rallied nicely out of a cup-with-handle formation
on Thursday. Continue to look for buying opportunities in
calls and call spreads here.
Oil
service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) has once again begun to pull back
and looks poised to make another stair step higher. Look for
buying opportunities in calls and call spreads here.
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The
semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) began to rally out of their first
pullback since their rally from lows. Look for buying
opportunities in calls and call spreads here.
Best
of luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!