Retail Vulnerable
Although Internet
(
$DOT.X |
Quote |
Chart |
News |
PowerRating)
continues to drift higher, it still 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.
Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating)
looks poised to break down out of an inverted cup and handle formation. Look for
buying opportunities in puts and put spreads here.
For you OEX
traders, the VIX remains at relatively low levels (see Friday’s Stock Outlook
for more information). Begin looking for buying opportunities in puts and put
spreads here.
Follow Up
The major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) imploded on
Friday. If you have profits here, you might want to lock in a piece.
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!