Correction Over In Oils?

May 3, 2001
Dave Landry

The major oils
(
$XOI.X |
Quote |
Chart |
News |
PowerRating), which have
been correcting ahead of the overall market, appear to be stabilizing in their
pullback. Look for buying opportunities in calls and call spreads here.

src=”https://tradingmarkets.com/media/images/Landry4/xoi050301.gif” width=”470″ height=”320″>

Oil service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating), like the major
oils, also appears to be stabilizing in its pullback. Look for buying
opportunities in calls and call spreads here.

src=”https://tradingmarkets.com/media/images/Landry4/osx050301.gif” width=”470″ height=”320″>

Looking Ahead

Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), which was down
sharply on Thursday, may set up over the next few days if it can stabilize in
here.