timwest
Short

Biotechnology Shares - IBB- Daily - Sell Signal Triggering Today

NASDAQ:IBB   ISHARES NASDAQ BIOTECHNOLOGY INDEX FUND
657 3 16
2 years ago
It isn't the easiest thing in the world to sell short a market that is rising as strongly as IBB             has here lately. However, when a trade is "hard to take" and it is following a set of rules, then it should be taken. The rules involve my personal RgMov indicator, which has failed to confirm the new high in IBB             . Granted, that may make it seem like a terrible indicator if it can't make a new high on a move up like this, but that is saying that the rally is not as structurally sound as other times.

The Risk is 1 average range (use the 11-day ATR calculation = looks like it is at least 7 pts).

Downside potential is whatever the price is when CCI reaches -100 and -150.

Tim 3:11PM EST, Monday, November 3, 2014 - so 3/11 on 11/3
a year ago
Comment: I see I missed the 6 month breakout of RgMov just prior to this short term divergence.
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
2use
2 years ago
Wow....IBB had only 2 red bars in the recent rally.
Reply
IvanLabrie PRO
2 years ago
Saw this one earlier at the the key hidden levels chatroom. Looks like a great setup for some quick money. Thanks for sharing, as usual Tim.
+1 Reply
timwest PRO IvanLabrie
2 years ago
Thanks Ivan.
Reply
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