Vix Getting Stretched
Telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
still looks like it has the potential to rally out of a loosely-formed cup and
handle. Continue to look for buying opportunities in calls
and call spreads here.
For you OEX
traders. The Vix is getting stretched to the downside. This action sets up CVR
sell signals on the Market
Bias Page. Further, the indices in general are overbought (see tonight’s
Stock Outlook). Therefore, look for buying opportunities in puts and put spreads
here.
Follow
Up/Looking Ahead
If you have
profits in gold and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, you might want
to lock in a piece as it is getting really extended.
I’m concerned that
Internet
(
$IIX.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, failed to follow through on
Friday. It looks like it has the potential to set up as a head and shoulders
formation. You might want to avoid the sector on the long side until this
pattern plays out.
Best of
luck with your trading on Monday!
P.S. Reminder:
Protective stops on every trade!