Biotech Update

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.

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