My Power Options system identifies the most volatile and liquid stocks for option trading or short-term stock trading, and this week it’s telling me that with the exceptions of Eli Lilly (NYSE:LLY) and Elan Corp. (NYSE:ELN), healthcare stocks are looking, well…healthy!
Use the following information to help you with your own options or short-term stock trading program.
These are the stocks that my Power Options system has rated as “improving.” That means that these stocks were in downward trends, but are rising up again temporarily before they hit resistance – which means an opportunity for calls with a strike price at the resistance level for each stock.
- Bristol Meyers-Squibb (NYSE:BMY)
- Merck (NYSE:MRK)
- Astrazeneca (NYSE:AZN)
- Boston Scientific (NYSE:BSX)
- Novo Nordisc (NYSE:NVO)
- Pfizer (NYSE:PFE)
- Biogen Idec (NASDAQ:BIIB)
Biogen in particular is rated as a “buy watch.” Be on the alert to buy on further strength in this stock.
These medical stocks are in downtrends. Elan looks to be accelerating its downward slide.
Ken Trester is editor of the popular Maximum Options program. Trester has been trading options since the first exchanges opened in 1973 with a winning streak that goes back to 1984 with money-doubling average annual profits since 1990.