There's major global pull back, Biotechnology will scale back, but not as much as SP500 and DOW. You should hedge properly, VIX will be back soon. *Election year is Biotech Year*
The uptrend for regn looks strong at the moment with the rsi above the 0 line but do be careful in the weeks leading up to earnings release. personally, i am long atm but that may change if I can buy it back at a lower price.
im not going to add more oil companies because this is based on my personal stock picks atm. Just take a look at that price action
REGN could head north of 400 post earnings, time to get in is between now @ 358.50 and a low of around 320
Bio tech industries are supposed to have a bright future. Technical analysis also supports this view. IBB is hitting almost 52-week low with very strong support in place since early 2010s. Careful for structure and 0.2 Fib (0.3 short term) at 278-279. GL
scaling in biotech,$ ino looking very bullish but very selectively stealth like as in its under the radar and they trying to keep it that way.
I believe LABU is at great support zone, soon we'll see it getting to 0.236 resistance zone, which will be 30.86
Either going to bounve, or brake nasty... I think it's going to bounce and then die. Look for neg divergences to short later...
Nice bearish flag break out 46.50 , or pullback an channel trendline @ ~52
watch for 200 day volume and other indicators good good j hook pattern read our book chapter 5 for an extensive list of indicators tune into our channel on utube like us on face book
Big short potential if IBB doesn't break back into the wedge tomorrow (2/11). Ill be looking to add more LABD by the end of the week if we don't see a bounce. This could be a big one!
The Biotech bubble bursting hits Nasdaq and makes it the weaker link in the indices chain. It all began when $IBB broke below 360$, closing below its Fast SMA line, providing the bearish signal by breaking down the weekly uptrend line (see point 1) August's declines lead $IBB to re-test another weekly uptrend line and the 300$ support zone - This created a rally...
Biotech bubble has burst. Every rallies are to be sold, and despite the euphoria/new highs in S&P and Nasdaq have barely registered a decent retracement in the biotech sector.. Here's a larger picture of how far biotechs have went since 2008: The uptrend in S&P is limited, and it will only be a matter of time before it collapses off this rising wedge....