Major Drugs Last Defensive Play?
In
light of developing world events, trading will be difficult at best on Friday.
Use caution, should you decide to trade.Â
Major
drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, may still offer a defensive play.
Continue to look for buying opportunities in calls and call spreads here.
On the
short side, biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), mentioned Wednesday night, remains
vulnerable. Continue to look for buying
opportunities in puts and put spreads here.
Looking Ahead
Banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating) continue to slide. This
sector may offer put/put spread opportunities on any relief rallies.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) has formed a
major inverted cup topping formation. It too may offer put/put spread
opportunities on any relief rallies.
Best
of luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!