Tech Slammed

  • January 2, 2001
  • Dave Landry

There were no
covered options that set up on Tuesday.

Gold and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating),
mentioned recently, still looks like it has the potential to rally out of a big-picture cup-and-handle formation. Continue to look
for buying opportunities in calls and call spreads here.

The banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating) have
begun to pull back from highs. Look for buying opportunities in calls and
spreads here on any resumption of strength.

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On the
short side, telcom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) looks poised to resume its strong downtrend
out of a pullback from lows. Look for buying opportunities in puts and put
spreads here.

Follow
Up

Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
imploded on Tuesday. On such a windfall move, it’s a good idea to lock in a
piece of your profits.

src=”https://tradingmarkets.com/media/images/Landry2/gso010201.gif” width=”470″ height=”320″>

Ditto
for Internet
(
$IIX.X |
Quote |
Chart |
News |
PowerRating) and computer technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating).

src=”https://tradingmarkets.com/media/images/Landry2/iix010201.gif” width=”470″ height=”320″>

 

Best of
luck with your trading on Wednesday!

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

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