Opportunities In Puts?

July 3, 2001
Dave Landry

Internet
(
$DOT.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, began to sell off on Tuesday. This action suggests that its
downtrend remains intact. Continue to look to for buying opportunities in puts
and put spreads here.

Major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating),
which many will need if the bull market doesn’t return soon, look poised to
resume their meltdown. Look for buying opportunities in puts and put spreads
here.

The major oils
(
$XOI.X |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still look vulnerable. Continue to look for buying
opportunities in puts and put spreads here.

Airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, also still look vulnerable. Continue to look for buying opportunities in puts
and put spreads here.

For you OEX
traders, the VIX began to bounce off of low levels on Tuesday. This action sets
up a CVR II sell signal. Further, there are day old CVR II and /CVR VI sell
signals, a TRIN Reversal and other sell signals on the
Market
Bias Page. This suggests that the market is due to correct. Therefore, continue looking for buying opportunities in puts and put
spreads here.