Insurance Continues To Rally

Insurance ($IUX.X | Quote | Chart | News | PowerRating) continues to rally out of a pullback from highs. Therefore, continue to look for buying opportunities in calls and call spreads here.

Drugs ($DRG.X | Quote | Chart | News | PowerRating) and healthcare ($HCX.X | Quote | Chart | News | PowerRating) are beginning to pull back. Continue to look for buying opportunities in calls and call spreads here.

Looking Ahead

Once again, many sectors that were in pullbacks form lows have failed to follow through to the downside. In fact, many such as retail, broker/dealer and biotech were up nicely on Thursday. These may set up on the long side soon.

Best of luck with your trading on Friday!

P.S. Reminder: Protective stops on every trade!