Semis Reverse
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) tagged and bounced off
of its old lows. However, many individual issues (see recent Stock Outlooks for
ideas) still look poised to resume their downtrend. Look for buying
opportunities in puts and put spreads in these issues.
Gold and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating) still looks
like it has the potential to rally out of its first pullback since its melt-up from lows.
Continue to look for buying opportunities in
calls and call spreads here.
The
semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned last night on the long (call) side, shot higher
earlier in the day but reversed to close poorly. I hope you were nimble enough
to take advantage of this situation. It now looks like the downtrend will
resume. Therefore, look for buying opportunities in puts and put spreads here.
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!