Semis Remain Constructive Part 2
Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating) appears to be
resuming its rally out of Friday’s knockout move. Look for buying opportunities
in calls and call spreads here.
The semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
appear to be attempting to rally out of a big picture low-level cup and handle
formation. Continue to watch for buying opportunities in calls and call spreads
here.
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), mentioned Friday, appears to be rallying out of its first
pullback since its strong rally from lows. Continue to look for buying
opportunities in calls and call spreads here.
On the
short side, the drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating), mentioned Friday night, sold off hard on
Monday. This action suggests that they have the potential to take out the bottom
of their recent consolidation. Continue to look for buying opportunities in puts and put
spreads here.
Best of
luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!