Tech Bounce Over/Wrong Number

  • February 27, 2001
  • Dave Landry

Oil
service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) still remains fairly constructive. Look for buying opportunities in
calls and call spreads here on any follow through to the upside.

I’m sure it’s obvious to you, but, I’ll say it
anyway: It looks like our bounce in tech is over. With that said, telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating)
rallied earlier in the day but reversed to close poorly. This suggests that its
longer-term downtrend remains intact. Look for buying opportunities in puts and
put spreads here.

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Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) looks poised to resume its downtrend. Look for buying
opportunities in puts and put spreads here.

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Best of
luck with your trading on Wednesday!

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

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