Another Shot At Oil Service?
Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
continued to rally on Thursday. This action suggest that its recent up leg
remains intact. Continue to look for buying opportunities in calls and call spreads here.
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
continues to rally of of its first pullback since rallying from lows. This
action suggests that bigger picture bottom remains intact. Continue to look for buying opportunities in calls and call spreads here.
For those willing to endure the pain of
another OPEC shakeout, oil service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) looks poised to resume its
strong downtrend. Look for buying opportunities in puts and put spreads here,
but wait for signs of a reversal.
Follow Up
The VIX continued
to implode on Thursday. If you have profits in volatility related trades, make
sure you lock in a piece of the profits.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!