Posted by timebandit on 10th of Jan 2022 at 05:56 pm
IBD Headline: Biotech Bloodbath: Gene-Editing Deals Fail to Save
Stocks. That's the kind of headline I like to see, because I bought
XBI today. It tagged the long-term support around 100 Matt has been
highlighting for a good while now. Bounced three times off it
Good buy, I didn't buy large just LABU, because I bought banks
and oil. Sentiment is only a reference to me but not a decision I
use to buy. The way I look at it is this. Overnight vix was up 12%
just before market opened, this was not much, and it went up to
only around 20%, when qqq dropped below daily trendline but OS, so
I thought this does not look like panic selling to me, but just a
drop then bounce (qqq undercut and OS, and spy just about touching
lower trendline and OS) so I sold my shorts. I could be wrong, of
course. One thing though is I forgot to buy SPY calls, too busy
looking at banks and oil, and to close shorts.
For XBI, is this THE low moving forward? I am not asking a
question. XBI stopped at 2018 support. I am planning to hold LABU
for long term, unless we get a retest of this low.
Posted by xxkumarxx on 10th of Jan 2022 at 09:11 pm
Don't hold leveraged ETF long term especially when it is going
in wrong direction you will get killed. I do think there is
up side to 32 -35. But I don't think this has turned.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
IBD Headline: Biotech Bloodbath: Gene-Editing
Posted by timebandit on 10th of Jan 2022 at 05:56 pm
IBD Headline: Biotech Bloodbath: Gene-Editing Deals Fail to Save Stocks. That's the kind of headline I like to see, because I bought XBI today. It tagged the long-term support around 100 Matt has been highlighting for a good while now. Bounced three times off it
Picked up XBI calls at
Posted by fredsaid on 10th of Jan 2022 at 09:03 pm
Picked up XBI calls at 101. Hope to unload all just under bounce symmetry target at ~105.
Good buy, I didn't buy
Posted by sydney on 10th of Jan 2022 at 07:19 pm
Good buy, I didn't buy large just LABU, because I bought banks and oil. Sentiment is only a reference to me but not a decision I use to buy. The way I look at it is this. Overnight vix was up 12% just before market opened, this was not much, and it went up to only around 20%, when qqq dropped below daily trendline but OS, so I thought this does not look like panic selling to me, but just a drop then bounce (qqq undercut and OS, and spy just about touching lower trendline and OS) so I sold my shorts. I could be wrong, of course. One thing though is I forgot to buy SPY calls, too busy looking at banks and oil, and to close shorts.
For XBI, is this THE low moving forward? I am not asking a question. XBI stopped at 2018 support. I am planning to hold LABU for long term, unless we get a retest of this low.
Don't hold leveraged ETF long
Posted by xxkumarxx on 10th of Jan 2022 at 09:11 pm
Don't hold leveraged ETF long term especially when it is going in wrong direction you will get killed. I do think there is up side to 32 -35. But I don't think this has turned.