I am stalking Biotech for a multi month move via IBB. While it is still weaker then SPY it is in support and showing positive volume and momentum impulses on short time scales. Do not have access to a seasonal chart for Biotech so seasonality is not factored into my current view.
1 reply to this topic
#1
Posted 08 May 2018 - 01:46 PM
"Successful trading is more about Sun Tzu then Elliott." F&D
#2
Posted 01 July 2018 - 10:36 PM
The Biotech ETF IBB moved up nicely since I called attention to it on MAy 8 but not spectacularly as I expected it would.
I have been in and out of it 3 times since then and will liquidate the fourth trade on Monday morning.
Since biotechs have higher Beta then the average stock the ETF is also more volatile then the market so I do not wan't to be caught in a potential downmove.
"Successful trading is more about Sun Tzu then Elliott." F&D