Defense, Defense

  • May 29, 2001
  • Dave Landry

As the market continues to correct, the
defensive issues and biotech seem to be holding up the best.

Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
still looks like it has the potential to resume its strong uptrend out of a
pullback.

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Major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating),
which many traders may need after a day like today, look like they have the
potential to resume their uptrend out of a pullback. Look for buying
opportunities in calls and call spreads here.

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Once again, gold and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating)
appears to have stabilized in its pullback and looks poised to resume its strong
uptrend. Look for buying opportunities here in calls and call spreads here.

src=”https://tradingmarkets.com/media/images/Landry4/xau052901.gif” width=”470″ height=”320″>

Best of
luck with your trading on Wednesday! 

P.S. Reminder:
Protective stops on every trade!

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