This is really going to fasten up now. The 200 is a support now and at the time S&P is printing some kind of pullback in the future - maybe after FED's rate hike next Wednesday - XBI will just test back the 200 .
In the next 2 weeks I will be adding to my stock trade positions if we test back the 200 . I think a new market is starting here which will run for years with terrible gains.
Gaps will be filled during the run just 2 days ago. These filled gaps are points to add to one's positions.
I will be charting XBI as LABU is a 3x and not good for charting but most of the time I will be trading LABU .
These are just great times. People will talk about the 2016-2019 markets even in 2040.
Don't ruin it. Ride it.
4x support today.
100 EMA at LABU, 200 EMA at XBI is the support
You can't sit in a 3x ETF for months. You have to catch the market pulse : buy the bottom and sell the top.
This is exactly what we did. We exited near the top at 44.75. ( You can check the real time trade at the STOCK TRADE 1 post) And now we are waiting for our entry point . I didn't want to let my money sit in the consolidation for weeks. I want my money to work in successful trades.
So the LABU buy is coming soon. My finger on the launch button of STOCK TRADE 2.
But not today.
Nope. It did take off and made people a lot of money. I'm going to assume it is smart cycle management. Arpi keeps track of a "cycle for every vehicle," something I aspire to do. The run (up cycle) was long in the tooth just looking at a daily chart, so should correct, then continue the bull run when it's the right time. For long term investors, he got them into bio-techs at the right time.