Vix Hovers Near Major Lows
Once again, Internet
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) still
looks poised to head lower out of a topping formation (see recent archives for
more details). For the nimble, continue
to look for buying opportunities in puts and put spreads here.
Gold and silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks vulnerable. Continue to look
for buying opportunities in
puts and put spreads here. Also, see tonight’s Futures Outlook for more
information on gold itself.
For you OEX traders, the Vix remains at
relatively low levels. Continue
to look for buying opportunities in puts and puts spreads here.
The Nasdaq 100 Vix
(
$VIX.X |
Quote |
Chart |
News |
PowerRating) (and QQQ Vix
(
$QQV.X |
Quote |
Chart |
News |
PowerRating)) also remains at relatively low
levels. Look for buying opportunities in puts and puts spreads here too.
Looking Ahead
The biotechs
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)
look like they are in corrective mode. They may set up over the next few days,
especially if we see an overall market correction.
Oil service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating)
appears to be breaking down. It may setup on the short side over the next few
days.
Best of
luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!