Telecom Continues Lower
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), mentioned Thursday,
appears to be resuming its strong downtrend. Continue to look for buying
opportunities in puts and put spreads here.
For you OEX traders, the VIX gapped sharply
higher on the panicky open but then reversed as the market bounced. Once again, this suggests that
volatility is poised to revert back to its mean. However, as you know, these are not normal times. We remain in a news
driven environment. Therefore, use extreme caution should you decide to take
trades here.
Looking Ahead
Nearly all sectors
are now in very strong downtrends. As soon as we bounce, we should get numerous
setups on the short side.
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!