Brokers Break Out
size=”2″ face=”Arial, Helvetica”>Join me, fellow
TradingMarkets.com content providers, and other traders and
money managers at the Trading Markets 2000 conference at the
Venetian Hotel Resort and Casino in Las Vegas on October
13-15, 2000.
face=”Arial, Helvetica”>For a back -to-basics look at
retracement levels, see my latest trading lesson:
Introduction To Retracements.
face=”Arial, Helvetica”>IBasis
(
IBAS |
Quote |
Chart |
News |
PowerRating), on the
From Highs List, may present an opportunity for covered
calls. You can buy the stock for 40, and you can sell the
August 45 calls for 3 3/4. This represents approximately a
21% return (more than 200% annualized, based on 39 days
until expiration) should the stock be called away.
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Major
drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating), mentioned Friday night, appear to be
resuming their strong uptrend. Continue to look for buying
opportunities in calls and call spreads here.
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Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, broke out of its recent
trading range on Monday. Continue to look for buying
opportunities in calls and call spreads here.
On
the short side, major oils
(
$XOI.X |
Quote |
Chart |
News |
PowerRating) and oil service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) look vulnerable. 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!