Telecom Sets Up
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) looks poised to
continue its strong downtrend out of a pullback from lows. Look for buying
opportunities in puts and put spreads here.
For you OEX traders, the VIX hit 3-year
highs but tailed off as the market reversed. Once again, this suggests that
volatility is poised to revert back to its mean. However, as you know, these are not normal times. We remain in a news
driven environment. Therefore, use extreme caution should you decide to take
trades here.
Looking Ahead
Selected
banks/finance are beginning to bounce. These stocks should set up soon as
shorts.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!