Good Insurance, Good Drugs and No Sox
There
were no meaningful covered option opportunities that set up tonight (Thursday).
Remain patient until conditions improve.
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.
Insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating) continues to
consolidate a high levels and looks poised to continue higher. Look for buying
opportunities in calls and call spreads here.
On the short side, the biotechs
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)
look poised to resume their meltdown from a longer term wide-and-loose topping
formation. Look for buying opportunities in puts and put spreads here.
Continuing on the short side, Internet
(
$IIX.X |
Quote |
Chart |
News |
PowerRating),
mentioned Wednesday night, still looks vulnerable. Continue to look for
buying opportunities in puts and put spreads here.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) looks poised to
make another stab lower out of falling tops. Look for buying opportunities in
puts and put spreads here.
The semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), have ended their retrace rally and look poised to return to
their recent lows. Look for buying opportunities in puts and put spreads here.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!