The LABD (3x Bearish Biotech Sector ETF) short trade has hit the sole price target of 3.69 for a gain of 18.3% in just over a week (or a beta-adjusted gain of ~ 6,1% based on the suggested beta-adjusted position size of 0.30 to account for the 300% leverage + volatile nature of the biotech sector).

XBI and/or LABD is on watch for another & possibly much larger short trade on the biotech sector although my preference for this trade was & still is to book full profits at T1, which is set just below intersecting trendline & price resistance. Doing so will help to minimize the chances of being caught in an extended sideways consolidation range, which is the primary culprit of the decay often suffered by LABD & other 3x leveraged ETFs.