Inverse Fund LABD In ‘Spring Position’
Yesterday’s action had LABD pushing past stop levels; resulting in one position being closed out … then re-opened late in the session (not advice, not a recommendation).
Price action as seen in the daily chart (above), penetrated the previous low from September 17th, and closed below that low (for LABD).
The open had an immediate rebound higher (SPBIO, lower).
LABD’s in position to move higher to a new daily high. Doing so, would help confirm a reversal’s underway.
Don’t Trust The Rebound
Here’s a link to an update that may be of interest. The first few minutes do an excellent job of eviscerating the so-called financial press.
Charts by StockCharts