Tech Remains Vulnerable
Broadcom
(
BRCM |
Quote |
Chart |
News |
PowerRating),
mentioned Wednesday night, may still provide an opportunity for covered
puts.
You can short the stock at 93 1/8 and sell the January 80 puts for 7 3/8.
This represents approximately a 22% return should the stock be put to you.
Gold and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating) appears to be
holding up well at higher levels and looks poised to resume its uptrend. Look
for buying opportunities in calls and call spreads here.
Internet
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) and
(
$IIX.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, still looks vulnerable. Continue to look for buying opportunities in
puts and put spreads here.
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks poised
to resume its strong downtrend out of a narrow consolidation/pullback from lows.
Continue to look for buying opportunities in puts and
put spreads here.
Computer technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating), mentioned
Wednesday night, still looks
poised to resume its strong downtrend out of a pullback from lows.
Look for buying opportunities in puts and put spreads here.Â
Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
also still looks vulnerable. Continue to look for buying opportunities in puts and put spreads here.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!