Semi Sonic?
The semis
(
$SOX.X |
Quote |
Chart |
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PowerRating), mentioned Monday as
a Bow Tie, are forming a cup and handle. Continue to look for buying
opportunities in calls and call spreads here but, as always, wait for signs of
follow through to the upside.
Retail
(
$RLX.X |
Quote |
Chart |
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PowerRating)
appear to be stabilizing in a pullback from highs and looks like it has the
potential to rally. Look for buying opportunities in calls and call spreads
here.
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)
mentioned recently, remains soft. This action suggests that they might still
have one more trip back to their old lows left in them. Continue to look for
buying opportunities in puts and puts spreads here.
Best of
luck with your trading on Wednesday!
P.S. Reminder:
Protective stops on every trade!