essentially, want to go 'long' on LABD like I did a few times last year... let it run... but the runs are short, just never knew when IBB was going to pop up.. so had to watch it closely, and yeah, got caught a few times when I wasn't. So at the moment, trading it as 'it gives'. This morn for instance, sold the 750 shares I had coming into today around $15.7... as it slid, started adding some shares back... went away to do something and just noticed it dropped to $15.50 or so... so made a couple of buys at $15.39..... Thing is, when it got a run going, it could make a nice move... just hard lately to get a 'good run' going... so a few 'quick' trades.. again, as it gives
But want to go long. Figure when IBB, BIB ETFs start to slide, the bio sector is going to sell down and LABD 'should' benefit from the slide. So yeah, while still trading it in the 'take what it gives' mode, also looking for signs on IBBS chart that its ready to drop at which point, will let LABD run and add as she goes...
Note: IBBs chart shows a 'slide' has commenced... Just never friggin know when they will jump into the bios cause of the impact to the S*P and NASD that the bio sector has... ie, this sector has been one that I have watched drop, rise, drop rise over the last several months in a rollo-dex fashion of 'whos turn is it'.... but the last run on IBB was 'weak', so now wondering if its time for IBB to test its Nov lows of $250 (currently at $271).... but first test is the Dec lows of $268)... IBB tests $250? Last time Labd was into the low $30s...
disclaimer: 1000 shares again since this morns sale... ave/sh $15.59