AMEX:XBI   SPDR SERIES TRUST SPDR S&P BIOTECH ETF
not a trade call
Trade active: Moving along well, Great hold especially with the market crash helping biotech fall.
Comment: Trade still progressing, with another fall on the SP500 coming, look for shorts from here.
Comment: Great move down to come here
I agree with your long-term direction in the next 24-36 months -- in fact I expect the Feb-16 $44.16 low to be tested in the next bear -- but this is a Bull's market until $69.21 is broken. I tentatively count 3 completed waves from Feb-16, and see no evidence that bio-tech is ready to completely break down.
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GurekmannGill prometheus333
@prometheus333, market crash, technical analysis, these are the two factors which will make this go in favor of my prediction.
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faronf GurekmannGill
@GurekmannGill, Are you long LABD at this current time? I had a small position but just Stopped out today. I'm wondering if I should wait to get back in, could be just witnessing a correction... with a bigger shake out to be had later in the year?
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@faronf, I haven't taken a position because I went all in DGAZ, but I would have taken this position if my capital allowed it. Its a solid long term hold imo. Especially with the market crash.
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faronf GurekmannGill
@GurekmannGill, cool, I F'd up and got out of D' way too soon. I'm actually quite mad at myself because I could've just set a tight trailing stop and I would've done exceptionally. I've never seen a Daily Cycle in Natty go this long before...completely through me off. Good trade holding onto that one bud!
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@faronf,yea that dgaz trade was crazy. I got out just a tad early but still secured a majority of those gains. I'll probably reenter after some retrace. Overall, xbi is a short for a while.
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what indicator are you using on the bottom.. (the red and green histogram)??
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@gmag, macd 4c
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gmag GurekmannGill
@GurekmannGill, Thanks!! I enjoy your work!
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@gmag, Thanks man, Appreciate your support!
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