This relatively short video discusses the near-term & longer-term outlook for the biotech sector, including the ETFs; LABU, XBI, IBB & PBE. It also gives clarification as to why LABU is currently listed as both an Active Short as well as an Active Long trade idea.
Active Trades are trade ideas that were previously posted as Trade Setups and have since triggered an entry or occasionally, a trade idea that was first posted directly to the active trades category as offering an objective entry at the time of the initial post. Active Trades might also be listed in one or more of the other trade categories as these categories are not necessarily mutually exclusive. E.g.- An Active Trade that still offers an objective entry might also be categorized under the Trade Setups category. Likewise, an Active Trade with multiple prices targets may have already hit one or more of those initial targets with additional target(s) remaining, thereby falling under both the Active Trades and Completed Categories. Traders should look to make any new entries or add to existing Active Trades objectively, such as a on pullback to a support level during an uptrend or a re-test of a broken trend-line, wedge, or channel pattern.
I’ve decided to go ahead & book profits on the remainder of my biotech short positions, including the LABU short. I’ll leave LABU on as an Active Short Trade for the time as I still believe there the biotech sector has more downside in the [continue reading…]
After looking over the charts of numerous biotech stocks, I have decided to cover approximately 60% of my LABU short position along with a few individual biotech stocks. LABU will continue to remain an Active Short Trade idea on the site as the biotech sector [continue reading…]
AMGN (Amgen Inc.) has hit the first profit target for a 15.1% gain. Consider booking partial or full profits and/or raising your stops, depending on your trading plan. AMGN was one of numerous biotech short trade ideas with above average R/R profiles that was covered [continue reading…]
COLM (Columbia Sportswear Co.) offers an objective short entry on this breakdown below the Ascending Broadening Wedge pattern. COLM will be added as an Active Trade around current levels with a suggested stop on any move above 63.80. Price targets are shown on this daily [continue reading…]
Shortly after closing out the previous FAS short trade for a 29% gain in exactly one month, with a nearly perfectly timed exit on the morning the big August 24th meltdown, FAS (3x long financial ETF) was once again posted as a new short setup [continue reading…]
XLF (Financial Sector ETF) is likely to spark a new downtrend should prices break below both this extremely well-defined downtrend line (6 reactions) AND the bottom of this triangle pattern. As I still favor considerable downside in US equities in the coming months & the [continue reading…]