Still Pulling Back

• April 24, 2001
• Dave Landry

Much of technology continues to trace out a
first pullback/cup and handle pattern similar to the Nasdaq itself. This
includes those sectors mentioned Monday night–biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), Internet
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) and the semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating)–along
with computer technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating). Look for buying opportunities in calls
and call spreads here but wait for confirmation to the upside.

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Looking outside of
technology, broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) continues to pull back to form its
handle. Continue to look for
buying opportunities in calls and call spreads here on signs of reversal in this
handle.

src=”https://tradingmarkets.com/media/images/Landry3/xbd042401.gif” width=”470″ height=”320″>

Best of
luck with your trading on Tuesday! 

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

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