Biotech/Drugs To Follow Market Lower?
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, rallied earlier in the day on Thursday but
began to stall out. This suggests that its longer-term downtrend remains intact. Continue to
look for buying opportunities in puts and put spreads
here.
The
drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look vulnerable. Continue to look for
buying opportunities in puts and put spreads here.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, appears to be resuming its strong
downtrend. Continue to look for buying opportunities in puts and
put spreads here.
The cyclicals
(
$CYC.X |
Quote |
Chart |
News |
PowerRating) look poised to
make another leg lower out of a pullback from lows. Look for buying opportunities in
puts and put spreads here.
Insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating) appears to be bumping up against
recent resistance in its pullback lows. This suggests it has the potential to
reverse and challenge its old lows. Look for buying opportunities in
puts and put spreads here.
Other
I recently read Tony Saliba’s Options Workbook. Tony
covers options in a very thorough yet clear and understandable fashion. This has
me wanting to go the seminar.
And, I will if I can get out of a wedding.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!