Tech Still Vulnerable But Already Oversold

  • February 16, 2001
  • Dave Landry

There’s not much to look at tonight (Friday).
Although, most of technology looks like its heading back to its old lows, its so
oversold it’s probably too late to establish positions.

Oil service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still looks constructive. Continue to
look for buying opportunities in calls and call spreads here on any resumption
of strength.

The banks
(
$BIX.X |
Quote |
Chart |
News |
PowerRating) continue to hold up
well in this poor environment. Continue to look for buying opportunities in
calls and call spreads here.

src=”https://tradingmarkets.com/media/images/Landry2/bix021601.gif” width=”470″ height=”320″>

Looking Ahead

Internet
(
$IIX.X |
Quote |
Chart |
News |
PowerRating) has now returned to
near its old lows. If it can stabilize here, it has the potential to make a big
picture double bottom.

src=”https://tradingmarkets.com/media/images/Landry2/iix021601.gif” width=”470″ height=”320″>

Best of
luck with your trading on Tuesday!

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

src=”https://tradingmarkets.com/media/images/Landry/land-dlst.jpg” width=”94″ height=”132″>