Telecom Still Weak
Idec
Pharmaceuticals
(
IDPH |
Quote |
Chart |
News |
PowerRating) may provide an opportunity for
covered calls. You can buy the stock for 164 3/4 and sell the November 175 calls
for 9 7/8. This represents
approximately a 6% return (more than 50% annualized, based
on 39 days until expiration) should the stock be called
away.
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.
Insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating) appears to have
stabilized after Friday’s sell off. This suggests that its uptrend remains
intact. Look for buying opportunities in calls and call spreads here.
On the short side, airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating),
mentioned Friday night, still look vulnerable. Continue to look for buying opportunities in
puts and put spreads here.
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
still remains in a weak position. Continue to look for buying opportunities in puts and put
spreads here.
Looking
Ahead
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) and Banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating), mentioned Friday night, remain weak
and may set up over the next few days.
Best
of luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!