Courtesy Update: 2:38 p.m., EST
Charts to be posted in a subsequent update.
Biotech is not behaving as expected; LABD-22-08, has been exited completely with an overall profit of about +8.5%.
We all know that real estate is in the largest bubble in U.S. history … and that’s not hyperbole.
With today’s upward bias in the market and IYR, not responding in kind (remaining weak), a position has been opened in leveraged inverse, DRV @ 74.53 (not advice, not a recommendation).
Price action in IYR, could still pressure somewhat higher into the close; thus, DRV would decline but the anticipation is if so, not by much.
Trade is labeled as DRV-22-05; stop is TBD, to be provided after the close.
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