Telecom Sell Off To Resume?
Due to the continued free-fall, there were no
covered call opportunities tonight (Friday).
Major
drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, may still offer a defensive play.
Continue to look for buying opportunities in calls and call spreads here.
On the short side, airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating)
look poised to make another stair-step lower. Look for buying opportunities in
puts and put spreads here.
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) appears to be stalling
out near recent resistance. Look for buying opportunities in puts and put
spreads here.
Looking
Ahead
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) appears to be breaking down. It may set up over the next few
days as an inverted cup-and-handle.
Banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating) were hit hard on Friday. They too could set up on the downside
over the next few days.
Best
of luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!