I’ll also just note that for those considering taking positions in any individuals within any sector and are having trouble choosing which ones to focus energies and money on, one additional aspect to add is some fundamental analysis on the individual positions being considered to determine which ones have the best financial, revenue / profit profiles. Ultimately, the technical setup in any opportunity should prevail in the actual tactical decision to engage no matter how good the fundamentals appear, but correlating that technical opportunity with the fundamental backdrop and rationale when one is trying to cull the candidate pool can be a very helpful approach – especially for the longer term oriented traders/investors.

Waiting for a definitive break of those weekly XBI, IBB & PBE flags would most certainly be the safer play with a much higher probability of success on the trade. Also keep in mind that if you don’t have a margin account where you can short LABU, that BIS (2x short Nasdaq Biotech etf, more comparable to IBB) would not suffer from as much decay as LABD if held for more than a day or so.