IBB Biotechs overextended Short

iShares Biotechnology ETFNASDAQ

Description

⋅ Feb 4, 2014 11:29 PM

Biotechs trading well above the 20 MA and have been going crazy over the past year. Good chance for major or minor correction. Buy your puts

Comments

TheChasm

⋅ Apr 10, 2014 5:39 PM

Made 1 more wave up since I made this chart. Finally Making new lows and breaking down. Bearish Sign. Could be the start of the correction.

TheChasm

⋅ Mar 9, 2014 10:08 PM

Puts are soo expensive on this thing... I am not even going to bother touching it until I see lower high/lows then maybe I'll consider shorting