Broker/Dealer Vulnerable
Many sectors, especially technology, are now
very oversold. Therefore, you might want to wait for a retrace from lows before
entering new put positions.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) looks poised to resume its strong downtrend out of a shallow
pullback from lows. Look for buying
opportunities in puts and put spreads here.
The
banks
(
$BIX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look vulnerable. Continue to
look for buying opportunities in puts and put spreads here.
Insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating) appears to be
stalling out (a) after retracing back to the area of its recent breakdown. Look
for buying opportunities in puts and put spreads here.
Follow
Up
If you
took trades in those tech sectors mentioned recently such as the semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating)
and computer technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating), you might want to lock in a piece of
your profits as tech is now very oversold.
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!