Banks Reverse
The banks
(
$BIX.X |
Quote |
Chart |
News |
PowerRating), mentioned
forever, finally had a meaningful reversal. This action suggests that
their longer-term downtrend remains intact. Continue to look for buying opportunities in puts and put spreads
here.
Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating)
also appears to be stalling out in its rally from lows. Look for buying
opportunities in puts and put spreads here.
Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), like much of
technology, tailed higher but reversed to close poorly. Look for a buying
opportunity in puts and put spreads here.
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) is also set up as a
pullback from lows. Continue to look for buying opportunities in puts and put spreads
here.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!