Went in LABD about an hour ago ... Under $49 Sell price $55+ Long SDOW at $20.60 Sell price $21.50-$22.00
Thx! Im always looking for setups in IBB, but thats another one where im just being patient waiting for it to establish the true bottom, i might be late but i wont lose alot that way atleast.
No shorting it? I didn't know about LABD until the "king of etf's" (S200S) posted some trades in it a few weeks back...the thing has the risk profile of a volatility index on steroids.
yea one can look at it both ways. May not be that bad..but china probably wont tell us how bad until too late if thats the case. Right now I am flat long term investments and watching metals, miners, and bonds to keep my bearings until we either retest aug 24 or keep going higher without looking back
speaking of which S200S posted a LABD trade back when it was just taking off at 48. I thought he was talking about LABU and I mentioned $18 but he was clearly going long LABD
Seems like such a crowded trade to be short IMO everyone has been saying biotechs cant go higher for how long........ there is a ton of people in it on the short side, while i feel it will probably go lower, the juice is all gone from the short side cause your not catching bulls at the top anymore. If i had to call it id say we probably head lower, but nothing im looking to be short specifically, just cause of the risk reward profile. Old habits die hard on wall street, i still see shitty biotech companies popping on junk news every single day.
yea if we roll over again hard I think they will rotate into another group thats holding its own until now...appl may be the last to fall...FANGS might be next short group..FANGS mixed with some TESLA, Priceline and a few others...tesla already looking ill lately
Yeah, that's a good point...My problem is that I forget how quickly the sentiment shifts in this market (especially with all the leveraged etf's) and how that can completely eliminate or shift supply/demand...For instance, take last Friday morning...sure I could see that selling was exhausted, but I'm always underestimating how far these rallies can run (especially in light of all the structural damage in this market for the bulls)...