Put Side Opportunites
Yet again, Internet
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) looks like it has the potential to resume its
downtrend. Continue to look for buying opportunities in puts
and put spreads here on signs of weakness.
The Semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
still look like they have the potential to break down out of a big picture
topping formation. Continue to watch for buying opportunities in puts and
put spreads here on follow through to the downside.
The airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) also look poised
to break down out of a big picture topping formation. Look for buying
opportunities in puts and put spreads here.
Looking Ahead
The major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) look like they
are in serious trouble. They will likely set up as shorts on the first bounce.
Best of
luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!