Non-Durables Last Safe Haven?
Due to
the continued oversold nature of the market, there were no cover calls that set
up for Thursday.
Consumer non-durables
(
$CMR.X |
Quote |
Chart |
News |
PowerRating) continue
to hold up well as defensive issues. Look for buying opportunities in calls and
call spreads here.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) has formed a
major inverted cup topping formation. Look for buying opportunities in puts and
put spreads here.
Continuing
on the short side, although retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) closed well on Wednesday, it
still remains vulnerable on a longer-term basis and appears to have only pulled
back from lows. Look for buying opportunities in puts and put spreads
here.
Best
of luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!