Semis Remain Vulnerable
Once again, there were no covered options that set up.
Remain patient until conditions improve.Â
In light of continued weakness in the market,
major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) and healthcare
(
$HCX.X |
Quote |
Chart |
News |
PowerRating) appear to be resuming
their longer-term uptrends. Look for buying
opportunities in calls and call spreads here.
Gold
and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, remains strong. Continue to look for buying opportunities in calls and call spreads here.
On the
short side, the semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look vulnerable. Continue to look
for buying opportunities in puts and put spreads here.
Best of
luck with your trading on Wednesday!
P.S. Reminder:
Protective stops on every trade!