VIX Reverses
Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) has begun to
rally out of a pullback. This action suggests that its recent up leg remains
intact. Look for buying opportunities in calls and call spreads here.
Telecom [$XTC.X| reversed Tuesday’s sell off
and rallied to close well. This action suggests that a bigger picture bottom may
remain intact. Look for buying opportunities in calls and call spreads here.
For you OEX
traders, the VIX began to reverse from relatively high levels. This, combined
with other market timing signals (see tonight’s Stock Market Outlook), suggests
that there may opportunities in those strategies which benefit from a decrease
in volatility/rising prices.
Best of
luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!