Tech To Continue Bounce?
Technology such as Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating),
software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating) and other sectors (see recent archives) bounced nicely
from potential double bottoms on Monday. Continue to look for buying
opportunities in calls and call spreads here but don’t overstay your welcome as
the long term trend remains down.
Oil
service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) appears to be trying to make another comeback after
pulling back into its recent consolidation. Look for buying opportunities in
calls and call spreads here.
Follow
Up
For you
OEX traders, the VIX imploded from high levels on
Monday. If you played this volatility reversion to the mean, you might want to
lock in a piece of your profits.
Random Thoughts
As you know, gold
and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating) is in melt-up mode. To be honest (as opposed to lying
to you), I’m not sure what to make of this just yet.
Best of
luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!