Gambling/Chips
face=”Arial, Helvetica”>MIPS Technology
(
MIPS |
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Chart |
News |
PowerRating), on the
10 Technology List, may present an opportunity for
covered calls. You can buy the stock for 42 1/8, and you can
sell the July 50 calls for 4 1/4. This represents
approximately a 28% return (more than 230% annualized, based
on 44 days until expiration) should the stock be called
away.
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The
semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned last night, held up well,
in spite of an overall down market. Continue to look for
buying opportunities in calls and call spreads here.
The
biotechs
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) are consolidating after their
recent breakout from a complex bottom structure. Look for
buying opportunities in calls and call spreads here, but
wait for sector confirmation, or focus on the strongest
individual issues.
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Gaming
(
$GAX.X |
Quote |
Chart |
News |
PowerRating) has formed a high-level cup-and-handle and
looks poised to break higher. Look for buying opportunities
in calls and call spreads here, but remember: Many issues
and the overall sector can trade thin.
Best
of luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!