AMEX:LABU   DIREXION DAILY S&P BIOTECH BULL 3X SHARES
5448 105 65
I have seen a few people buying LABU             2 days ago at the exact bottom. Guys you might have bought the exact bottom of Biotech! So please don't ruin that position because I'm pretty sure we are breaking above the 100 EMA in a few days and most probably more rally is coming.

2 days ago we broke below the trendline but the selloff couldn't last for too long. We not just printed a reversal breaking back above the trend line but almost printed an island reversal. Let's say we have 1/2 island reversal. The gap below today's bottom might never get filled.

RSI left oversold just like at the previous rallies. MACD turning up -crossing over soon. This rally could be even more powerful than last one. A 30-35$ rally is not out of the table...
Comment: Do not try to take profit. If you take profit you will be forced to buy back at much higher prices or you will miss all of the rest of the rally.
This one has printed an intermediate cycle low 3 days ago by breaking the trendline. So it will run for 6-8 weeks. This is going to be a horrible rally.
Use the dips to add the position. This trade will be the a big winner.
Comment: If we close here at 30.62 we rallied 40% this week.
Unbelievable.
Comment: The 2 adding points:
29.3 and 27.7. If you add at 29.3 have some dry powder to add around 27.7-28.
I don't think the gap will be ever filled.
snapshot
Comment: LABU was a buy at 29.3 today.
Comment: Today LABU is a buy again.
Try to buy the dips!
Comment: Don't freak out because of yesterday's red candle!
Every red candle is a reason to add for 2 weeks from now
One could use the 10 EMA on the 4hrs chart to add the position
Watch how 10 EMA is supporting the trend...
snapshot
Comment: I'm 100% sure we will tag 40$ in 2 weeks.
snapshot
Comment: LABU premarket 34.6
Almost all of yesterday's decline erased...
Comment: I don't have premarket data yet but because of the JUNO news I'm quite sure we will open with a gap.
(UP gap) I think the whole market will have a small correction today so I'm going to sell half of my LABU position into the open. I will buy back at the close , or tomorrow at the open.
Will post it in the stock trade.
It's just a small game you don't have to follow one could loose the position or have to enter at higher price...
Comment: A few of you asked would Ibuy the dips in LABU or not.
I said yes, but now at the open I will not buy. I want to wait what's happening today.
S&P is in a rally mode but we could stop for 1-2 days. That would affect LABU also.
It could drop a bit more. I would like to buy now lower.
So if you are in a long position just hold.
If you are at the sidelines just a wait a bit for better price. I will post in the stock trade when I add .
Comment: We are opening with a gap.
I tried to calculate the worst case if we fall. All who is overleveraged could close some position now at the open. Just in case not to be stopped out at the blue dotted line
snapshot
Comment: Still valid. I say tomorrow the latest when we are reversing.
Comment: We just closed the GAP and closing above the 100 EMA by the close.
It might be a buy today. I'm fully positioned so not buying, just a short thought....
Comment:
snapshot
XBI weekly. I found this big 73 weeks cycle interesting. According to it the ultimate high this year is scheduled on a week Dec 12, 2016.
snapshot
+1 Reply
Very nice Elliot Waves yesterday

http://charts.stocktwits.com/production/original_58934752.?1469141959
Reply
What if it is like this? Volume today is not that great.
snapshot

Reply
chartwatchers PRO pbartashevich
Watch the big picture.
We are above the 200 EMA. And closed the gap...
It's very bullish to me.
snapshot
+1 Reply
pbartashevich PRO chartwatchers
Thank you very much Arpi. I agree 100% with big picture. I left some money though in my pocket. Next week is FOMC meeting and after four weeks of run stocks in general might correct before it a bit. They did not have much of correction after break out, so pre-FOMC couple of days is a good time for many traders to take some profits.
Reply
200 day moving average taken out.... the moon is next
Reply
We actually got two perfect candles of Evening Star, so if tomorrow price go down and closes below $33.40 (mid-point of first long candle)... That would complete the reversal pattern.
Reply
traderzaius pbartashevich
how can you use the chart of LABU to plot your trade? Its a 3x etf. Use XBI instead.
Reply
I plot both. XBI is painting same pattern. I think tomorrow it sill very depend on where S&P is going and dollar. XBI jumped up today in the morning but rest of the day was following S&P. Anyway if it not finish pattern then goes higher. if finishes, i think computers will sell off next day. Today's closing gap and going into negative territory was weak. Shouldn't have done it if very strong.
Reply
Thank you very much Arpi.
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out