You can thank that little price hiking hedge fund manager and people like Bill Ackman for the Healthcare/Pharmaceutical correction. Looking at the weekly using Fibs as reference points i believe healthcare over the next few months will begin to sell. I have a target of the 1.618 extension
of 59.76 and a second target of 53.31. I'm using XLV
to short because everything else is too expensive... you can play this through ITM
puts or buy a longterm out of the money put at a 62 or 60 strike for next year.
Feel free to leave comments or questions.