Brokers Broken?
Yet again, the major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) continue to hold up fairly well. Continue to look for buying opportunities in calls
and call spreads here.
The euphoria over
Lehman Brothers didn’t seem to carry throughout the broker/dealers
(
$XBD.X |
Quote |
Chart |
News |
PowerRating).
Look for buying opportunities in puts and put spreads here.
Looking
Ahead/Random Thoughts
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)
has dropped to the bottom of its recent range and looks like it may be in
trouble. Watch for breakdown below recent lows.
Technology of
various forms should set up on the downside after the first bounce. Remain
patient here.
The semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) look like they might
be putting in a big picture top.
Best of
luck with your trading on Wednesday!
P.S. Reminder:
Protective stops on every trade!