Technical analysis highlighting some recent & potential technical developments on the US stock market as well as some of the sectors & individual stocks that stand out at this time. playback speed can be increased in the settings to reduce video duration
I'm watching to see if XBI (biotech sector ETF) finalizes this potential bearish engulfing candle at the close today with additional downside this week to firm up the case for a triple top high. XBI daily June 4th Back on March 13th, the previous failed attempt to break out above the January 29, 2018, all-time high in XBI resulted in a bearish engulfing candlestick, followed by a drop of nearly 16%. As back then, XBI once again has negative divergences that indicate the biotechs are likely poised for the next major correction soon, even if XBI manages to foil [...]
The video provides updates on all of the active trade ideas plus a few unofficial trades on RSOTC at this time proceeded by a brief analysis of QQQ with the near-term outlook for the US stock market. For those wishing to skip ahead to a particular trade idea, the following securities are covered in this order: QQQ (up to the 5 minute market) followed by CANE, WEAT, CORN, CMCSA, ENDP, IEF, TLT, LABD*, XBI*, NFLX, NKTR, SIRI, URGN & XLP. *LABD & XBI were recently closed out after hitting the sole price target but there are some notable developments on the [...]
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 [...]
Updates on all of the official short trade ideas on Right Side Of The Chart at this time. For those wishing to skip ahead to a particular trade, the following stocks are covered in this order: ENPH (recently stopped out), LABD, XBI, NKTR, NFLX, SIRI, TWTR & URGN. playback speed can be increased in the settings to reduce the duration of the video
This video attempts to both debunk as well as confirm some of the negative stigmas associated with buying & holding leveraged ETFs for more than a day trade. Real-world examples are used with two of the most notorious offenders when it comes to the price decay that can result when holding a leveraged ETF for an extended period of time, LABU & LABD (3x bullish & bearish biotech ETFs) as well as NUGT & DUST (3x gold miners ETFs). playback speed can be increased in the settings to reduce video duration
The following notes & charts outline the entry criteria, price targets, suggested stop & beta-adjusted position size for a swing trade in LABD (3x Bearish Biotech ETF) or XBI (non-leveraged Biotech ETF).