Set Up For Puts?

August 2, 2001
Dave Landry

Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
still looks poised to
resume its downtrend out of a pullback from lows. Continue to look for buying opportunities
in puts and puts spreads here.

Insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
remains vulnerable. Continue to look for buying opportunities
in puts and put spreads here.

Although oil service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) bounced on Thursday, it still looks vulnerable longer term.
Continue to look for buying
opportunities in puts and put spreads here.

Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, still looks like it might have one more trip to its old lows left in it.
Continue to look for buying opportunities in
puts and put spreads here.

For you OEX
traders, the VIX, which is stretched from its moving average, began to rise on
Thursday. This sets up numerous sell signals on the Market Bias page and
suggests that it will continue to revert back to its mean. Continue to look for buying opportunities in puts and put spreads here.