Drugs Hanging In
There
were no meaningful covered option opportunities that set up tonight (Wednesday).
The
major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look poised to rally out
of a pullback. Continue to look for
buying opportunities in calls and call spreads here.
Consumer non-cyclical
(
$CMR.X |
Quote |
Chart |
News |
PowerRating) looks
poised to rally out of a high-level consolidation. Look for buying opportunities
in calls and call spreads here.
On the short side, Internet
(
$IIX.X |
Quote |
Chart |
News |
PowerRating)
and
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) appears to be stalling out in a rally from lows. Look for
buying opportunities in calls and call spreads here.
Follow Up
The semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned Monday night, continued their bounce on Wednesday. If
you played this bounce, you might want to lock in a piece of your profits as
they have had a decent rally and are approaching resistance levels.
The VIX continued to implode on Wednesday.
Therefore, if you played the implosion of volatility, you might want to begin to
lock in profits.
Best of
luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!
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