AMEX:LABU   DIREXION DAILY S&P BIOTECH BULL 3X SHARES
2417 27 50
I loved LABU's last 18$ run. I'm looking forward to see a 20$ run in the following weeks.
A perfect entry point could come if we tag the trendline again. I'm a little bit afraid that we cannot reach the trendline so most probably I will try to reenter in LABU             early next week and if we tag the trendline I will be adding to the position.

RSI is in the ideal territory looks ready to bounce just like in the past.

I set this idea as long but I'm waiting for an entry point next week only.
Comment: LABU seems to be ready for the next 20$ rally.
Volume was horrible yesterday. Big blayers were betting on tady's rally.
We might see 2 fantastic days here.
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Comment: Good day in LABU today.
Watch out S&P 500 ! Daily maximum. It seems that banks are 100 % sure that UK will stay...
OR
The US Govt. doesn't want to take some awful chances: if the vote is Brexit they want to have room to fall before the elections...
LOL
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Comment: It seems we will have an intermediate correction during the following weeks.
I plan to close this position once we have a pop : probably Thursday or Friday.
I'm not selling in th is panic stage when the trendline is breaking down.
Comment: Still holding the LABU position. This is not just a bounce, the rally is starting again.
Comment: Guys don't freak out because of yesterday's red candle.
Every red candle is a reason to add for 2-3 weeks from now.
One could use the 10 EMA on the 4hrs chart to add to the position...
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Brexit...
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Thank you so much Arpi!!!! I learned so so many things from you !!!!
Fundamental > Technicals combined essential in playing games
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I'm in :)
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Looking for a swing low to enter but the next leg up will be massive!!!!
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Thanks Arpi,
It was perfect prediction last time. Let us know when you enter. You are a great trader and teacher too. So many things to learn from you!!!
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looks good thank you!
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Dear Sir Lancelot/Robin Hood
are you are still in this .. from "stock trade 1" post?
Stock trade 1.
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Increased my positions in LABU great buying opportunity!
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we actually got to 25.. amazed how charts again and again shows the trending strengths and targets
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chachiman aksjetom
Increased LABU position near trend line too. Interesting article on Biotech sector http://www.marketwatch.com/story/brexit-means-little-for-biotech-stocks-analyst-says-2016-06-24. A wait and see game.....
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so what happens after Brexit?
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Is it still wise to get into LABU or will it break and go lower? What are the turning points in your view? Thank you.
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Intraday, we blew through the trend line. I was adding a little as we hit the bottom of the declining wedge (or flag) which we blew threw as well. I see support at previous turning points of 22.25, 20.56 and 19.04. RSI (14) really oversold now. Are you still in this trade Arpi? S/L out or adding? I'm thinking of adding a little at the support areas....
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It was poised to pop, but Brexit sidelined any rallys for the time being.. unfortunately, I'm in the same position as you guys.
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I am adding to the position, I am showing over sold in my models as well.
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My research shows LABU only has a 12% impact to the EU market so this should rally nicely once everyone figures things out.
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It hit my SL of 22.55 :(
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It will have a nice bounce for a few days, probably tomorrow but still not confirmed. I would probably sit this one out until a real swing low which will take a few weeks after the ICL.
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traderzaius traderzaius
buy at the ICL I mean
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Yesterday we completed a triple bottom pattern but I am having some issues with the price target, my model is showing an approximate $55 value. Any thoughts? Bottoms at 03/29. 05/12 and 06/27 using Apri's chart notice these dates are exactly 33 and 32 days apart.
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It's very tempting to stay with this. I see your triple bottom too. We're back into the top of the declining trend line from the last top, and back above Arpi's original trend line, BUT, Arpi says he's getting out after the pop this week, so is he saying his original hypothesis is broken and all bets are off (note volume also increased)? Let's see if Arpi posts a new hypothesis or sticks with the discipline of the broken uptrend....
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"Intermediate correction during the following weeks...." Triple bottom, or broken uptrend?
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It's itching to add to my position to get the average price down as it seems to have reversed again... any thoughts?
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Thanks Arpi! Definitely some indecision on my part right about now that you've corrected.
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Do you think we beginning a small decline period? Should I take my profits from last week?
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