LABU
Biotech - LABU - XBI - LongIt seems like Biotech has found its bottom, we should rally from here... There is a strong chance due to the elections that we may get an undercut low next week to get all the retail traders out before the big rally.
Opening LABU position today with SL at today's intra day low.
LABULABU looks right here for a reversal. The Bullish Bat pattern is in play as we reached the 88.6% pattern today. We now have a chance to go to 50% fibo which is around $40.10
XBI Speculative Long PlayWe are finally starting to see some bullish indicators on the daily for XBI. Of course with bio, the swings are long and hard to predict bottoms, so this idea/play is pure speculative. Looking back we can see similar RSI divergence signals and MACD crossovers as to what we can "potentially" see here in the next couple of days.
Any bounce off the 55.95-ish area would be pretty bullish for a short term long swing, using possibly LABU. It'll be interesting to see what happens in the next couple of days...
LABUI like LABU here. The stock markets are starting a new cycle which will move LABU higher. I have a target of $60, but I bet it goes much higher.
Breaking down Retest in 60's - Current support at 50 day SMAlooks ready to retest 60's where there is a large gap
LABU bounce off of supportLABU dropped towards the support level, we're going to see if we can get a bounce tomorrow!
XBI LongLawmakers benefit from taxes generated from biotech, and big pharma companies that are generating massive revenues. Expecting $LABU ~$50-55 range by mid September.
LABULABU Trade; I bought some LABU here, looks like it breaking out of this wedge. Looks like a bull flag consolidation moving out of the wedge. I should have spotted this earlier. If the T1 pattern is in play, We could see LABU at $58 maybe?
LABD - Dragon w/ Megaphone Bottom PatternHillary Clintons latest against Myland should continue to drop the bio sector. Expecting early Monday dip, then rebound. Safe entry $24.50, risky appetite at $22.75. Price target $32.
D-Day is approaching for Biotechafter earnings no more major news until election time. possible martin shrekli enlightenment
XBI global rout imminentThere's major global pull back, Biotechnology will scale back, but not as much as SP500 and DOW.
You should hedge properly, VIX will be back soon.
*Election year is Biotech Year*
LABUThe stock market was hit hard on the BREXIT vote. I believe LABU has now found a bottom. The LABU ETF shows a trend line break and a double bottom. The double bottom seems to be holding. Set your stops there. %R is over sold and recovering. Last time we saw this we had a run to the upper trend line. A similar move this time will bring us to $42. A very nice return on our $$$ risk if we get it. The purple arrows seem to confirm a trend change they are pointing out the Stochastic go long alerts. Same as before.
LABUWith OIL moving lower LABU could drop here to retest the lower trend line. I do notice that the SP500 seems to go with OIL or conversely! I have some LABU. I thought the chart looked good coming off the lower trend line. But if the market moves down with OIL I can expect LABU to follow. I'll probably sell 1/2 my position Today and see how OIL and markets do.
