Can Biotech Make Another Leg Higher?
Biotech
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$BTK.X |
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PowerRating)
is set up as a low-level cup and handle. Look for buying
opportunities in calls and call spreads here but don’t overstay your welcome as
there is overhead resistance.
Follow Up/Looking Ahead
Once again, if you took any OEX trades, you might want
to continue to scale out of your positions.
Software
(
$GSO.X |
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PowerRating) is approaching its
old lows. If you took trades here, you might want to lock in a piece.
The banks
(
$BKX.X |
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PowerRating) continue to implode.
They may set up as shorts on the first bounce.
Best of
luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!