Biotech Poised To Move
Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
appears to be resuming its downtrend out of a pullback from lows. Continue to look for buying opportunities
in puts and puts spreads here.
Once again,
biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) still looks like it might have one more trip to its old lows left in it.
What’s interesting is that it is also a low volatility situation. This suggests
that it could make a large move in either direction. Therefore, focus on the
short side but also consider those combinational strategies that seek to gain
from an increase in volatility.
For you OEX
traders, the VIX began to revert back to its mean as the market slid on Monday. Continue to look for buying
opportunities in puts and put spreads here.
Best of
luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!