LastBattle
Short

Short biotechnology again near trend line resistance

INDEX:NBI   Nasdaq Biotechnology Index
a year ago
Biotech bubble has burst.
Every rallies are to be sold, and despite the euphoria/new highs in S&P             and Nasdaq have barely registered a decent retracement in the biotech sector..

Here's a larger picture of how far biotechs have went since 2008:
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The uptrend in S&P             is limited, and it will only be a matter of time before it collapses off this rising wedge. However it is also risky to go against Janet Yellen (FED) with unlimited cash in its balance sheet. A short on a specific sector would be a much safer bet.

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I'm long on ZBIO             (3x short biotech ETF ) at 22.51, with a target around $30~40.

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a year ago
Comment: [image]https://www.tradingview.com/x/PzYlD2vN/[/image]

Pretty speculative still, proceed with caution. I don't see signals of a reversal from the market yet, but simply a high probability trade.
a year ago
Comment: Trend confirmed as of today's closing. S&P is bearish.

IBB:
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S&P500:
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Sit tight and watch it roll now!
a year ago
Comment: Trade closed.
ChimbOt PRO
a year ago
I like it
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+1 Reply
LastBattle ChimbOt
a year ago
to the earth! :D haha
Reply
LastBattle
a year ago
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Valeant vs IBB.
Reply
jangseohee
a year ago
i should have alerted u on this
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wick wick buy signal
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+1 Reply
LastBattle jangseohee
a year ago
In fact I've closed the day before on 4% profit when the S&P rallied on intra-day for a quick scalp hoping to short higher, but since that trade is still valid I didn't update the post.
Now that the trade have failed completely :)
+1 Reply
LastBattle jangseohee
a year ago
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watching nasdaq to re-enter short again... This thing looks toppy, but no confirmation yet.

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Reply
ChimbOt PRO LastBattle
a year ago
The bulls are winning :D
Reply
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