Transports Breaking Out?
Once again, there were no covered options that set up.Â
Forest and paper
(
$FPP.X |
Quote |
Chart |
News |
PowerRating) have pulled
back since recently breaking out. Look for buying opportunities in calls and
calls spreads here.
The transports
(
$TRX.X |
Quote |
Chart |
News |
PowerRating) appear to be
breaking out of a high-level base. Look for buying opportunities in calls and
calls spreads here.
Gold and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating) has formed a
major low-level cup and is beginning to “handle.” Look for buying
opportunities in calls and call spreads here.
On the
short side, in spite of crude oil being up on Monday, the major oils
(
$XOI.X |
Quote |
Chart |
News |
PowerRating)
were weak and look poised to resume their recent breakdown. Look
for buying opportunities in puts and put spreads here.
Looking Ahead
Insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating) reversed from highs
on Monday. These stocks may set up as a pullbacks over the next few days.
Best of
luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!