Don’t Bank On It
Even though the banks
(
$BKS.X |
Quote |
Chart |
News |
PowerRating) have
rallied sharply as of late, it still looks like nothing more than a pullback
from lows. Continue to look for buying opportunities in puts and put spreads
here.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)
remains set up as a pullback from lows. Continue to look for buying opportunities in puts
and put spreads here. Ditto for Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating).
Looking Ahead
The drugs and
biotechs mounted impressive rallies on Thursday. However, it’s too soon to make
any calls here.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!