Semis To Catch Up With Rest Of Tech?
PowerRating), mentioned recently, dropped again on Monday. This
suggests that their downtrend remains intact. Continue to look for buying opportunities in puts and put spreads here.
PowerRating) are about the only area of technology that remain relatively
overbought. Look for buying opportunities in puts and put spreads here as they
will likely play catch up.
OEX traders, the VIX spiked higher on Monday to levels not seen in months. This
may set up a reversion to the mean (implosion) volatility play. Just remember
that strategies which seek to capitalize on an implosion in volatility offer
limited gains with the potential for unlimited losses. Make sure you understand
this and/or hedge your bets.
As you know, the technology sectors mentioned
recently along with broker-dealer
PowerRating) got creamed again on Monday.
If you still have positions here, I suggest that you continue to lock in
luck with your trading on Tuesday!
Protective stops on every trade!