Retail Vulnerable
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, reversed intra-day but remains set up as a low level cup and handle. Continue to
look for buying
opportunities in calls and call spreads here.
On the short side,
retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) have formed an inverted cup and is beginning to form a
handle. Look for buying opportunities in puts and put spreads here.
Continuing on the
short side, the banks
(
$BKS.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, remain vulnerable.
Continue to look for buying
opportunities in puts and put spreads here.
For you OEX traders, once again we have a
plethora of VIX buy (and repeat buy) signals on the Market Bias Page. Therefore, look for
strategies which seek to capitalize on volatility reverting to the mean (i.e.
decreasing). Use caution though as many of these strategies offer limited gains
with the potential for unlimited risk.
Best of
luck with your trading on Wednesday!
P.S. Reminder:
Protective stops on every trade!