Many Sectors Set Up For Puts
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, continues to hold up well on a relative
strength basis but still looks vulnerable longer term. Continue to
look for buying opportunities in puts and put spreads
here.
The
drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) and healthcare
(
$HCX.X |
Quote |
Chart |
News |
PowerRating) continue their sharp rally
from lows but remain vulnerable longer-term. Continue to look for
buying opportunities in puts and put spreads here but wait for follow through to
the downside.
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) looks poised to break down out of a rally from lows. Look for
buying opportunities in puts and put spreads here.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks like it has the potential to
resume its longer-term downtrend. Continue to look for buying opportunities in puts and
put spreads here.
Other
Early this morning, I pulled out my tattered dog eared and
highlighted copy of Market Wizards and re-read the chapter on Tony Saliba.
Now, I have to go to the seminar.*
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!