LastBattle
Short

Short biotechnology again near trend line resistance

INDEX:NBI   Nasdaq Biotechnology Index
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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Comment:
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Pretty speculative still, proceed with caution. I don't see signals of a reversal from the market yet, but simply a high probability trade.
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!
Comment: Trade closed.
i should have alerted u on this
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wick wick buy signal
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+1 Reply
LastBattle PRO jangseohee
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 PRO jangseohee
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watching nasdaq to re-enter short again... This thing looks toppy, but no confirmation yet.

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ChimbOt PRO LastBattle
The bulls are winning :D
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Valeant vs IBB.
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I like it
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+1 Reply
to the earth! :D haha
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