AMEX:LABU DIREXION DAILY S&P BIOTECH BULL 3X SHARES
Comment: First target reached, have a stop in place to protect your gains.
Trade closed: target reached: Sold 1/2 my position
Comment: Is LABU bull flagging and setting up for another run higher?
Trade closed: stop reached: The bull flag on LABU is taking too long to move higher. I think its time to close the trade.
Comment: LABU could be set up again for another run higher. Possible Bull flag, and 61.8% FIBO retrace
Comment: Is it too late to buy LABU? Short term maybe. Look at the purple arrows. All are where I have sell signals (red SELL). The last 2 worked perfectly, now? If we get a strong break out of the bull flag, then BUY. We could get one more correction. IF you see what I mean?
Comment: Amazing how that worked out. Next target $32.50. Might be a good BUY there.
@Guybrush80, Im not sure why a rate hike would effect Bio? Everyone expects a 1/2 point rate hike, it should already be baked in.