Telecom Bounces
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) may present an opportunity for
covered calls. You can buy the stock for 80 1/16th, and you can
sell the October 90 calls for 4 3/4. This represents
approximately a 18% return (more than 220% annualized, based
on 29 days until expiration) should the stock be called
away.
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Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating) appears poised to rally out of a deep pullback. The nets
(
$IIX.X |
Quote |
Chart |
News |
PowerRating)
are a similar pattern. Look for buying opportunities in calls and call spreads
here.
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For the bottom fishers,
telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) appears to be bouncing off of its recent lows. Look for
a buying opportunity in calls and call spreads here.
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Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) appears to find support after recently
pulling back. Look for a buying opportunity in calls and call spreads here.
Best
of luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!