The most recent XBI/LABU short trade was stopped out for a minor loss of 1.25%. A very tight stop was used as this most recent short entry/re-entry was based on the assumption that XBI had just started a wave B down on an ABC corrective wave (which didn't prove to be the case, hence the [...]
XBI slightly exceeded the revised suggested stop yesterday (which was lowered to the entry point for a breakeven on the trade). In hindsight, l should have left a little more room for that expected counter-trend bounce. As the charts still indicate more downside, XBI or LABU will be added back as a new Active Short [...]
This video provides a brief update on the active XBI/LABU short trade as well as a discussion on some of the things that I look for when trading off the 60-minute time frame. Please log in or sign up for your free 3-week trial to view.
While I plan to leave 60.10 as the sole & final target for XBI/LABU for the time being, with the 60-minute trend indicators recently flipping to bearish, one might opt to lower stops & hold out for either of these two additional potential targets. XBI 60-min Aug 11th With that being said, should [...]
The following notes & charts discuss the entry criteria, suggested stop & price target for a trade in XBI (biotech ETF) or LABU (3x bullish biotech ETF). Please log in or sign up for your free 3-week trial to view.
For those looking for short exposure or hedges to a portfolio of longs, here are a few of the sector ETFs that stand out as short-side swing trading opportunities. While I may add some of these as official trade ideas, I don't have the time to annotate all the charts & list suggested stops & [...]
In addition to the biotech video + static charts last week, I had also shared establishing my first swing short position in the biotech sector (via an LABU short) in months, along with a day trade that I took last week. While the day trade didn't pan out, the biotechs peaked the very next day [...]