Long set upThis bio showing strong base of support. looking for 2.80 then possible bigger move to 4 $XBI
XBI
BBIO: Innovative company and the future of health care?A company with an innovative approach to health care with an equally nice chart pattern. Check out what they have to offer on their company website (can't supply links yet)
long set upmassive H&S but also breaking out of a downtrend. MA's on the weekly are bullish above the 40MA. tight range. swing here on daily time frame or look for break out on weekly chart. long 2.90, stop at 2.40 $XBI
Ultimate LONG - The Biotech Bubble Bubbles are natural & good until everybody talks about it.
Didn't hear of anyone talking about it, so its a good time to make call - THE NEXT BUBBLE WILL BE IN BIOTECH (if we IGNORE EV and SPAC's ofcourse)
My bet is:
1. small cap bios could double-tripple from here.
2. heavy names could get +50%
Too much money, to few shares & good companies.
OPENING (IRA): XBI NOV/DEC/JAN 87/90/93 SHORT PUT LADDER... for a 5.91 credit in total.
Notes: Going where the volatility is ... . 30-day greater than 35% (39.8%) with the November at-the-money short straddle paying 13.1% of where the stock is currently trading.
This isn't usually an IRA play I go for, since you won't get paid to wait if you get assigned shares (the yield is absolutely paltry at .10%). However, I'm pretty much in all the plays or in a closely correlated play at the top of the exchange-traded-fund board: XOP (56.2%) (play on in XLE); GDXJ (51.1%) (plays on in SLV and GLD); SLV (47.7%); EWZ (47.5%); GDX (42.9%) (plays on in SLV/GLD); XLE (42.6%), and SMH (39.6%) (no play on).
XLV: Can Health Care lead the market in Coronaland recovery?I really like UNH in this space. Health insurance names in general seem to want to push higher. Nice inverse head and shoulders here on the daily with what could be
a market bottom. Starting to pick up a bit of biotech as well to compliment
money moving from TECH to healthcare Retail Airlines restaurantsmoney $$ is moving from TECH to healthcare Retail Airlines restaurants
stay away from Boeing company needs a rebirth
Wait till mid / end of october for tech entry
LABU (XBI) LONG - Price Target: $70. Moving average convergence/divergence crossover on multiple timeframes, RSI rising quickly out of overbought area, price bounced off of a long term price support/resistance line.
Target $70 : Tight stop loss
AUPH: this one's gonna doubleAUPH is sitting on fib support here. Great spot to buy. Expecting this one to double.
BTAI: A good spot to buyBTAI has same promising setup. It has retraced 61.8% of the recent upmove and is poised to launch a lot higher. Good risk/reward long here.
Biotech Channel Held 7/21/2020This is XBI at the 4 hour view. It seems that my biotech channel was a success. XBI tried to gap above the top of the channel. However, whenever the price goes above the long-term channel, it tends to get hammered right back in.
This may provide some safer short opportunities under these conditions.
1) XBI is at the top or above the top of the channel.
2) VIX is about found support.
3) After the hype of some vaccine news.
Equities - Own What is Working! Pt. 5Please check out my blog post for the full details:
www.derzzycharts.com
Well GDX looks really healthy right now. There isn’t even a bearish divergence which means we can buy it right now if we wanted to! Remember to stick to your process whenever you are entering positions. So for now, we will leave XBI and QQQ alone, but buy GDX right now if we so please.
Happy Trading!
Brandon Anderson
brandon@derzzycharts.com
@derzzycharts
www.derzzycharts.com
Equities - Own What is Working! Pt. 4Please check out my blog post for the full details:
www.derzzycharts.com
Same exact deal, we have a bearish RSI divergence, so we have already taken a third of our position off, now we wait to see what happens next.
"Now we may be seeing a double RSI divergence coming up here, which is where we exit another third of our position. Very key to also think on the bullish side here and consider that the RSI could hit new highs, which discounts the bearish divergence. Very key to watch at these levels because we are either adding capital on the pullback or locking in gains if the double bearish divergence is confirmed."
What about GDX?
Equities - Own What is Working! Pt. 5
Happy Trading!
Brandon Anderson
brandon@derzzycharts.com
@derzzycharts
www.derzzycharts.com
Equities - Own What is Working! Pt. 3Please check out my blog post for the full details:
www.derzzycharts.com
Now we may be seeing a double RSI divergence coming up here, which is where we exit another third of our position. Very key to also think on the bullish side here and consider that the RSI could hit new highs, which discounts the bearish divergence. Very key to watch at these levels because we are either adding capital on the pullback or locking in gains if the double bearish divergence is confirmed. What about QQQ?
Equities - Own What is Working! Pt. 4
Happy Trading!
Brandon Anderson
brandon@derzzycharts.com
@derzzycharts
www.derzzycharts.com
Equities - Own What is Working! Pt. 2Check out my blog post for the full breakdown:
derzzycharts.com/blog-1/equities-own-what-is-working
Here we have XBI, GDX, and QQQ. The gains have been amazing already, so now we have to practice some patience. Honestly I am waiting for a pullback on some of these sectors before I buy them. Why? GDX looks the most promising, as it is the only one that doesn’t have a bearish divergence on the RSI. Remember bearish divergences are for taking profit, not for entering positions. Let’s have a look at XBI:
Equities - Own What is Working! Pt. 3
Happy Trading!
Brandon Anderson
brandon@derzzycharts.com
@derzzycharts
www.derzzycharts.com
Biotech Channel 7/18/2020I've noticed that most tech related ETFs and the NQ are in the same general channel.
This is the XBI at the 4 hour view. It's the biotech ETF. As you may see, my buy zone is way below. This may be due to the coronavirus vaccine hype. Not sure.
Either way, biotech has been grinding at the top of my channel for a while. If it pops above it, it will likely get hammered down.
I'll short it if it pops above my channel and go long when it gets hammered down to my buy zone.
Biotech Looking a Little Sick: LABDAnother descending triangle has appeared in LABD. My numerous other finds have yielded decent results but we have yet to see a turn in the market indicating a new direction. The play itself might be worth a couple of percent gain but please trade safely. The downturn near the end of Friday's session is forecasting a likely poor Monday opening in addition to the negative news that continues to come out of the ECB and New York.
