out of downward channel. Longout of downward flagging channel. should get through on the next test of the 200ma
IBB trade ideas
IBB: Previous year's darling index. IBB has been one of those indexes that has been very easy to trade with, but "blink and you'll miss it" kinda deal. It's been a rough ride for the year, and if the chart is any indication, it's about to get tougher for this index (and its components) soon. No where but down.
IBB - Gap Filled, can move higher nowI'm playing odd that this will move a little higher. Bought Dec23 270 call / sold two Dec23 280 calls for $1.90
IBB daily chart potential reversalIBB has traded into a potential reversal zone and I am watching the 1h chart for reversal candles somewhere between 270 and 264. I will be ready to take a long position then.
ibb longibb pulled back to its 200 SMA to the tick,,i think we bounce from here
what do you think, please comment
IBB BiotecgnologyMixed signals
Bulls need to break above green line
Bears need to break below red lines
Biotechnology ETF $IBB Short Level RevealedThe biotechnology ETF $IBB has limited upside near-term. The max upside is $306.75. This is the level that Pro Traders will be shorting. Notice below the range the $IBB has been trading in. When it hits $306.75, it will be the high end of the range. The downside could be huge on this trade, with the lower target of the range at $250.00.
I post all of my trades on Verified Investing and you can follow every trade i take in real time, verified, here: verifiedinvesting.com
IBB: Go long, hedge or notSame theme as SPY, we have an excellent long opportunity here. I like the VIX and pseudo-VIX activity today (USDMXN if you might ask), so I think we have a bottom in place here. Stop is a new low, risk 0.5% going long at market open, add to reach 1% risk on dips in the following 3 days. You may or not hedge with either a half size LABD position, or IBB puts at $255, Dec 16 expiration.
Good luck!
Ivan Labrie.
GapYesterday we opened with an upward gap. This may be seen as a signal to get stronger for the bioteck sector.
Biotechs bottoming?I like the positive divergence on money flow here. Buying some biotechs this week
IBB approaching support.Technically Speaking
IBB is approaching support at 240.
A break under 240, could see a move toward 200.
What to do?
I will watch and see what happens at the 240 level. I am looking to buy if it holds.
If it breaks, I am looking to buy at the 200 level.
Ultimately, I am looking for a move back above 300.
IBB retested rising trend line at 289 and failed.IBB rested the 289 area, and failed. First support is 200 mva
IBB: Could be range bound hereI'd reccomend looking to exit from biotech longs before news this week. The resistance level between 290.75 and 293.47 is quite significant, and the forecasted target from my previous chart is almost hit. Anything above that target is a really decent exit for now.
The market being sideways, is what would frustrate the most people, and thus, it's the most likely scenario here, in the short term.
I'll be focusing on riding the short term legs via SPX, while holding my longer term fundamentally biased trades, heding my exposure to longs by selling calls when viable, and/or buying puts, whilst also being able to quickly switch from long to short SPX cfds, and generating uncorrelated returns from FX and commodity trades.
Good luck!
Ivan Labrie.
