Those late to the game on BTU may have cashed out with losses on Friday, September 25th.
So-called ‘expert’ (buy) opinion came out on the 17th and since then BTU has declined anywhere from -8%, to -27%.
We exited our BTU long on the 18th, with a 15.5%, gain.
Now, we see BTU contacting a nascent trend-line. There could be a trading channel formed as well.
If BTU maintains the trend, it’s rising approximately +3,000%, annualized.
At that rate, a 100% gain on a long position (not advice, not a recommendation) would take about six-weeks.
In other markets, biotech (IBB) pre-market action shows a higher open. If that’s the case, we’ll exit (not advice, not a recommendation) the BIS position and stand aside.
Update: 9:54 a.m. EST: IBB is reversing immediately from its open. BIS position maintained (not advice, not a recommendation) at this point.
Update: 2:39 p.m. EST: BIS exit @ 31.591
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