Lock-n-Load In Tech Puts
Technology in general
(
$PSE.X |
Quote |
Chart |
News |
PowerRating) was
creamed on Friday. If you have profits in recently mentioned sectors such as
software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), broadband
(
BDH |
Quote |
Chart |
News |
PowerRating) and computer technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating), make sure you lock in a piece as oversold markets can have sharp bounces.
Also, make sure you also lock in a piece in
the recently mentioned broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) sector. As you know, it, too,
got creamed on Friday.
In the drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating), there wasn’t the
flight-to-quality that one would expect for such poor market conditions. This,
combined with the fact that it appeared to be stalling out in a re-trace to its
recent low-level base suggests that the short side is the logical play here.
Look for buying opportunities in puts and put spreads.
The
airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, appear to be resuming their
downtrend. Look for buying opportunities in puts and put spreads here.
Looking Ahead
The major oils
(
$XOI.X |
Quote |
Chart |
News |
PowerRating) edged to new
highs but then began to reverse. This suggests that a pullback may be under way
and that they may set up over the next few days.
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!