VIX Stretched Further
Once again, telecomÂ
(
$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.
Major drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) are consolidating
at high levels and look poised to continue higher. Look for a buying opportunity
in calls and call spreads here.
For you OEX
traders. The Vix is even more stretched to the downside. This action sets up
repeat CVR
sell signals on the Market
Bias Page. Therefore, look for buying opportunities in puts and put spreads
here.
Follow
Up/Looking Ahead
Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)
continues to rally nicely. It may set up soon on a pullback.
Best of
luck with your trading on Tuesday!Â
P.S. Reminder:
Protective stops on every trade!