Banks Stalling
The Banks
(
$BIX.X |
Quote |
Chart |
News |
PowerRating) look like they
finally may be running out of steam in their pullback from lows. This suggests
that their downtrend remains intact. Look for buying opportunities in puts and put spreads
here but wait for follow through to the downside.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) failed to follow
through from Friday’s rally. This action suggests that their downtrend remains
intact. Look for buying opportunities in puts and put spreads here.
Although biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) reversed
intra-day, it still looks vulnerable. Continue to look for buying opportunities in puts and put spreads here.
Looking Ahead
Major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) continue their
melt up from lows. This sector may provide opportunities on the first pullback.
Best of
luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!