Tech Still Constructive

• April 26, 2001
• Dave Landry

On Thursday, technology stalled out after
probing higher. However, overall, it still remains constructive.  Continue
to look for buying opportunities in calls and call spreads in sectors here that
have formed first pullbacks, Bow Ties and cup and handles. These include biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating),
Internet
(
$DOT.X |
Quote |
Chart |
News |
PowerRating), semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), computer technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating)
and software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating). 

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Computer technology, like
many other tech sectors,  reversed to close poorly after probing higher.
However, its handle remains intact. 

 

Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) still looks like it has the
potential to break out of a low-level cup and handle.  Continue to look for
buying opportunities in calls and call spreads here.

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Best of
luck with your trading on Friday! 

P.S. Reminder:
Protective stops on every trade!

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