My Stock Winners

Bullish

Sector trading above its…
20-day Moving Average: NO
50-day Moving Average: YES
100-day Moving Average: YES

Sentiment:Pessimism continues to permeated the telecom sector’s sentiment backdrop. The composite Schaeffer’s put/call open interest ratio for the sector has risen to a reading of 1.2, as put open interest outnumbers calls open interest among near-term options. This reading is also higher than all but two of those taken during the past 52 weeks.

Outlook:The Telecommunications HOLDRS Trust (TTH – 34.65) appears to be bouncing off support near its rising 100-day moving average. Furthermore, the exchange-traded fund (ETF) continues to enjoy the support of its ascending 10-week and 20-week moving averages.