Buy biotech! Everybody knows that right? Who doesn't know that you have to buy biotech stocks should not be trading stocks at all right? This sector is going down!
The patterns are explained on the chart. Check out the daily chart with my entry that is coming in a few minutes.
Comments
DemianThomas
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hey vlad, did you get stopped out or are you still holding for a longer period for a drop, with a lot of biotech earnings coming out soon I'm not so sure if now is the time for a drop? Could be wrong though, love your charts keep them coming.
vlad.adrian
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Thank you!
When you look for such a long term fall like this one, you can't get stopped out on a daily rally. My position is small so that I can take a full on rally. I believe most global markets are going to fall in the coming months, and that includes the strongest sector in the US market, the biotech sector.
HexVex
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So why short the strongest on a small position instead of the weakest in any size of position?
HexVex
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Sport?
vlad.adrian
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Because this is where I see a setup. I don't trade what I think, I don't trade fundamentals, I don't trade relative strength, I trade setups. This is a diverging double top, this is where my system tells me to short.
HexVex
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That makes sense if you believe to have a clear signal. And I like the reasoning on your chart. I prefer to go large on a sure thing rather than spread out too thinly across the board to minimize risk/exposure.
HexVex
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Guys and girls from Cambodia might not understand your sarcasm...
HexVex
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You mean Sell not Buy right?
vlad.adrian
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Yes, it says it in the description
vlad.adrian
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They will if they read my description where it says 'this sector is going down'. Plus, don't think they have good internet connection in Cambodia