Back To Drugs
There were no meaningful covered options that set up
tonight (Monday). Remain patient until conditions improve.
Drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) and healthcare
(
$HCX.X |
Quote |
Chart |
News |
PowerRating),
which were down sharply on Friday (b), recovered nicely on Monday (a). This suggests
that the uptrend remains intact here. Look for buying opportunities in calls and
call spreads here.
Consumer
non-durables
(
$CMR.X |
Quote |
Chart |
News |
PowerRating) continue to hold up well at high levels and look
poised to break out of a base. Look for buying opportunities in calls and call
spreads here.
On the short side, software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating) is
in day two of a pullback from lows and looks poised to resume its meltdown. Look
for buying opportunities in puts and put spreads here.
Looking Ahead
Gold and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating) continues to
rally off of lows. There may be buying opportunities here on the first
pullback.
Best of
luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!