Bob Lang, Chief Options Strategist of Explosive Options tells TheStreet’s Jill Malandrino the S&P 500 is just about to touch its 100-day moving average, an indicator technicians use to gauge the strength of the underlying that they are trading. When the S&P traded this pattern in the past year, stock prices came down a bit, but it was enough of an oversold condition for buyers to come back in. Lang shares two stocks that look attractive for a long position based on the charts. He likes Ulta Salon, Cosmetics & Fragrance in the retail space, a stock owned in TheStreet’s Trifecta portfolio. In the tech space, Lang is getting more constructive on Sandisk.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
