Anytime.

Agreed. I would be very skeptical of any long-side breakouts right now, including the biotechs.

G-luck. Although I didn’t add to it, I have a short position on LABU from what I guess would have been around the time of that previous rising wedge breakdown on the 60-minute XBI chart last month. (still up 20.8% today despite the recent 12%+ bounce in LABU over the last couple of days).

Based on the previous case that I’ve made from the weekly charts of the biotechs, that the rally off the early 2016 lows might just be a typical bear market rally following the first leg down in a new primary bear market that kicked off back with the July ’15 highs, I used an LABU short to take advantage of the decay from the 3x leverage, should last months highs prove to be the end of that possible bear market counter-trend rally. However, I’m going to stop out for a modest gain should XBI manage to breakout above this wedge & then move above 65.00 (which should allow the position enough room for a false breakout/stop-clearing raid).