Still Set Up For Puts Part 2
Once
again, there were no meaningful covered calls that set up. Remain patient until
the overall market improves.
Internet basis the Street.com Internet Index
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) looks poised to resume its strong downtrend out of a three-bar
pullback from lows.
Continuing
on the short side, Banks
(
$BKX |
Quote |
Chart |
News |
PowerRating) and Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) both mentioned Friday night, still look vulnerable. Continue to
look for buying opportunities in puts and put spreads here.
The
semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned Monday night, rallied earlier in the day but
later began to stall. This suggests their downtrend remains intact. Continue to
look for buying opportunities in puts and put spreads here.
Follow
Up/Looking Ahead
Major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating), mentioned
recently, were up sharply on Monday. If you were fortunate enough to participate
here, you might want to lock in a piece of your profits and wait for the next
pullback.
Best
of luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!