This video covers the biotech sector starting with an overview of PBE (PowerShares Dynamic Biotech Portfolio ETF) and IBB (iShares Nasdaq Biotechnology Index Fund ETF), both of which are very close to triggering major sell signals. In the coming months, my expectation is for a drop of at least 20% in the biotech sector with many individual biotech stocks poised for substantially deeper corrections. As of now, the sector (as represented by these two ETFs) has fallen to & remains on major uptrend lines so we have yet to trigger a major sell signal in the sector. However, as discussed in [...]
The following short trades will be removed from the Active Trades category. Some of these trades may have already hit one or more profit targets while others failed to reach their price target(s). Many of these trades have also exceeded their suggested stop level while others may not have but in the long overdue process of cleaning up the Trade Ideas, I will be removing any trades that no longer look attractive from a technical perspective in order to make room for some new trade ideas. ALXN, CBK, DDS, DHI, EWJ, HLF, JPM, PHM, TASR, THI, TJX, VAL, WFC, XHB, XLF, [...]
This first chart is a screenshot of the ALXN daily chart from the January 23rd Active Trades Update video, showing a solid breakdown of a bear flag pattern taking place at the time. ALXN was first mentioned as a short all the way back on October 21st immediately following the breakdown & backtest of that uppermost yellow bearish rising wedge pattern. That entry has since turned out to be the top of the flag pole to this bear flag pattern that subsequently set up as this multi-month swing short trade consolidated in this common continuation pattern that is often needed to [...]
As mentioned earlier today, I am working on updating all of the trade ideas on the site. As there are currently 38 active short trades, it is much more efficient to review those charts in a video format vs. mocking up static charts and the accompanying notes on all of them. Many of the active short trades on the site were initiated shortly before or after the previous market peak on Sept 14th. When the market bottomed and hit several my key downside price targets on Nov 16th, I stated that the R/R to remaining short was now outweighed by the [...]
AXLN was first mentioned as one of my favorite biotech short trade ideas back on Oct 21st. The trade was also covered in the recent biotech short trade ideas video and once again looks to be offering an objective short entry or add-on at current levels as it re-tests the former first target level from below (as well as the 200ema). A stop above the 97.50 level would offer an very nice R/R of 6:1 on this trade as T2 (69.60) would be the price target.
The biotech sector remainS one of my favorite short trade ideas and I've put together this video covering the charts of the 14 biotech stocks that I posted on October 21st as my favorite individual shorts in the sector (click here to view that post). Also discussed are the IBB, my preferred ETF for the sector as well as a few alternative etf's (PBE, XBI, BBH, etc...). CLICK HERE TO VIEW THE 10/30/12 BIOTECH SECTOR TRADE IDEAS VIDEO
one of my favorite sectors to short at this time is the biotech sector. in fact, there are so many nice charts that i really can't pick any one or two favorites (although the recently triggered BIIB active trade is one of my top picks). therefore, i will try to put together a video covering the trade ideas in that sector asap, hopefully tomorrow. i went thru the charts of all 116 components of the IBB (iShares Biotechnology Index Fund ETF) and here is list of some of the best looking shorts in the group, as well as two longs that [...]