Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the WisdomTree Europe Hedged Equity Fund (HEDJ), where 6,800,000 units were destroyed, or a 2.0% decrease week over week. And on a percentage change basis, the ETF with the biggest outflow was the Daily S&P Biotech Bear 3x Shares (LABD), which lost 150,000 of its units, representing a 30.0% decline in outstanding units compared to the week prior.
Incredible turn around in the biotechs today, this should continue into next week! LABU only a $1.00 away from cost average price of around $20.
I’ve been looking at BBH, FBT, PBE, and XBI. Can anyone give me any advice on which to choose?? I’ve read about it (Biotech ETFs) but I’d really prefer to hear some first hand experiences. Thanks
S2007S, will you use the current rally to reshort biotech? Since Friday's huge reversal and based on my analog of the 1983-94, I am getting quite bullish on the general U.S. indices. A lot of biotech stocks have held support last week, but my model is still looking to reshort biotech as it goes higher.
I can tell you I didn't sell my LABU yet in either of my 2 accounts, came very close to letting it go around $20.50 but held on.... I did however add shares of LABD on friday just around $50 and again this morning in another account at $45.50. Im thinking of buying even more now.... IFFFFF biotech starts to sell off the nasdaq is going to extreme RED today....get ready if that happens!
LABD now closing in on intraday highs....the reverse has happened.... LABU and the biotechs opened up EXTREMELY STRONG this morning and have since faded, now looking down across the board
Man, biotechs have been super weak even with the strong rally the past 2 days. My model is still saying it's a huge short. I'm a little surprised more traders on here are not talking about this trade. I was happy for biotechs to go higher, but that's the only rally we get? Come on we need more people to push prices higher to reshort =] On a side note, I'm a little pissed off my broker has not had shares available to short for 4 days now when I could be reselling on strength.
sell the combo in the options market (buy puts, sell call). the implied borrow there will be the cheapest rate you will pay and you run less risk of being bought in.
Thanks for the tip! I will take a look but I need to do more homework on this strategy before I jump right in. I'm still a newb to options, only have experience buying puts and calls haha