Set Up For Puts

  • December 6, 2000
  • Dave Landry

There were no meaningful covered options that set up
tonight (Wednesday). Continue to remain patient until conditions improve.

On the short side, oil service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating),
mentioned Tuesday night, still  looks poised to resume its recent meltdown. Look for buying opportunities in
puts and put spreads here

Internet 
(
$IIX.X |
Quote |
Chart |
News |
PowerRating) has stalled out
around the area of its recent highs (a). Look for buying opportunities in puts
and put spreads here.

src=”https://tradingmarkets.com/media/images/Landry/iix120600.gif” width=”470″ height=”320″>

Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), like Internet, also stalled out near its recent highs (a). Look
for buying opportunities in puts and put spreads here.

src=”https://tradingmarkets.com/media/images/Landry/gso120600.gif” width=”470″ height=”320″>

The
semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned Tuesday night, stalled out in the area of their
recent breakdown. This action suggests that its downtrend remains intact. Look for buying opportunities in puts and put spreads here.

Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) appears to have stalled out after Tuesday’s massive gains. Look
for buying opportunities in puts and put spreads here.

Best of
luck with your trading on Thursday!

P.S. Reminder:
Protective stops on every trade!