AMEX:LABU   DIREXION DAILY S&P BIOTECH BULL 3X SHARES
277 8 8
LABU             looks right here for a reversal. The Bullish Bat pattern is in play as we reached the 88.6% pattern today. We now have a chance to go to 50% fibo which is around $40.10
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.

I think we are near 14 december FED rate hike.... with it Bio dropped last time, so I think now it will go up but it's not so strong, from that date it will go down
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bhowe Guybrush80
@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.
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@bhowe, https://pbs.twimg.com/media/CyedlTcXcAAjmDH.jpg:large
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bhowe Guybrush80
@Guybrush80, Interesting
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Sorry i would mean 52-55 for LABU that means 75 for XBI
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Yeah i think it will go up toward to 75
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your idea was ON time, great!
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Excellent! What is your next target? I am waiting for retrace. Thanks!
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