Biotech Remains At Critical Juncture
Once again, the major drugs
(
$DRG.X |
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PowerRating) continue to hold up fairly well. Continue to look for buying opportunities in calls
and call spreads here.
Biotech
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$BTK.X |
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reversed after tailing higher. This throws up another caution flag. Looking to
the individual stocks, there are a few that remain in bullish pullbacks while
others appear that have begun to break down. Therefore, use caution when placing
trades in this sector.
Follow Up
Obviously,
oversold become more oversold on Monday in technology. Therefore, continue to
wait for a bounce before attempting shorts in areas such as telecom
(
$XTC.X |
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PowerRating), computer technology
(
$XCI.X |
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(
$GSO.X |
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PowerRating).
Best of
luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!