IBB price action pushed through our stops and contacted the underside trend line. This morning’s update indicated that possibility.
In response, LABD position has been re-opened.
IBB price action has been hovering about this level for about two hours. It may have stalled; indicating potential reversal.
Obviously, this type of positioning is not for everyone. Understandable.
However, the markets themselves are dictating the appropriate action.
Positioning (not advice, not a recommendation)
LABD, Entry 1, @ 18.94
LABD Entry 2 @ 19.23.
Stop: A bit below the session low at approx: 18.60 – 18.90
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.