Broker/Dealer Vulnerable
Once again, there were no covered options that set up.
Remain patient until conditions improve.Â
Gold
and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, remains strong. Continue to look for buying opportunities in calls and call spreads here.
In light of continued weakness in the market,
major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) and healthcare
(
$HCX.X |
Quote |
Chart |
News |
PowerRating) remain fairly strong.
Continue to look for buying
opportunities in calls and call spreads here.
On the
short side, the semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, appear to be resuming
their longer-term downtrend. Continue to look
for buying opportunities in puts and put spreads here.
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) has formed a “running” (or continuation) head and
shoulders. This action suggests that its downtrend remains intact. Look for
buying opportunities in puts and put spreads here.
Major
oils
(
$XOI.X |
Quote |
Chart |
News |
PowerRating) look like they have the potential to break down out of a
big picture topping formation. Look for buying opportunities in puts and put
spreads here.
Best of
luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!