Tired a different Biotech etf, long UBIO at $8.75...just wanted to trade it and see what its like...missed out on LABD under $50 this morning, so instead went long some biotech, figure I own LABU, why not buy some more biotech in a different ETF....UBIO is the BULL ETF If you want to trade against biotech the other is ZBIO, I haven't traded that one yet since these are newer and have less volume, stick with LABD and LABU if you want more liquidity.
For the record, I have no idea what "bullish arguments" I've made in 2015. Perhaps in your mind, the correction I forecast in US equities wasn't deep enough, so that is "bullish" ? Or suggesting that the TSX was getting cheap around 13000 was too "bullish" for you ? Or merely quoting government stats ( unemployment at 5.1% ) or listing actual bearish forecast of others in a thread is somehow "bullish" ? Or everyone is supposed to buy into your worldwide economic collapse theories or they are too "bullish" ? If I'm too "bullish" for your liking, so what ? Time will tell the tale, you can look back at your posts in a few years.
I got so bored of this market the last few days I haven't been trading as much and I missed out on DWTI around $80 and LABD under $50, both are up over 10% in just 2-3 trading sessions...oh well, now Ill just wait for the next drop to come...
2040-2060 seems to major resistance thats why this market for me is getting tough to trade......if it is broken to the upside Im thinking 90% chance market gets to historical highs....a break back down and some big earning misses can send the markets right down to where they were just a few weeks ago when the dow was treading just above 16,000...best bet is to wait it out....with earnings here now will just have to wait it out and see how the markets react to this earnings season. The recent rally looks like 2007: Technician http://www.cnbc.com/2015/10/13/the-recent-rally-looks-like-2007-technician.html Comparing the recent environment to that of October 2011, Krinsky noted one key discrepancy. "The rally coming off the October 2011 bottom was led by the leadership group," said Krinsky, meaning the sectors that were strong heading into the sell-off continued to be rally coming out of it. "Meanwhile, the laggards continued to lag," he added. "So we're seeing a completely different picture coming off the lows [now]." Instead, Krinsky says the current market looks a lot more like it did just before the financial crisis. "The correction in August 2007—before we made the major top in October 2007—was led very similarly to the current setup, by the laggards," said MKM Partners' chief market technician. "That leadership makeup does concern us a bit." Adding to Krinsky's market apprehension is the S&P 500's declining 200-day moving average for the first time in four years. "The primary trend in our view is that the slope of the 200-day moving average is now trading down. That gives us a more cautious outlook." Of course, Krinsky isn't suggesting a major market meltdown, but he is urging investors to tread carefully in the current marketplace. "Be patient with the S&P 500," he added. "We have a lot of overhead resistance in the 2,040-to-2,060 range, and I don't think that's going to be easily surpassed." At the very least, Krinsky expects the S&P 500 to retest the 1,900 level in the near future before resuming its advance.
not yet not yet....still too early to tell, I even want to say yes to that but I think we still have some time before things start to head downhill, earnings season is here so everyone is focusing on that for now....unless earnings after earnings just keep missing then yes were headed straight down but until then it seems the markets will be trading sideways for a bit!
Do you always have to get your knickers in a twist? Chill bro There are two camps at this juncture, I've stated my current position quite clearly few times now, as far as I am concerned correction hasn't run it's course yet. I haven't said anything about the collapse, I've posted some videos from the X22 report that points out that the economy is collapsing, that's it. I am banking on correction continuing.