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.

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