Direxion Daily S&P Biotech Bear 3X Shares (LABD)

[THREE-DAY-TRADER]

Yeah, since my August LABD trade (sold for profit) I've been respecting the XBI chart's ability to keep potentially breaking out, and now XBI broke the 65.00 resistance area putting LABD to new lows as has been anticipated for likely risk.

With the FOMC meeting result Sept 21 (Wed), I would be wary of the LABD yet.
Most likely a rate hike will not occur and will be a negative weight taken off of the market's shoulders, helping likely to push up XBI yet more. At some point, however, around all this being priced in, the LABD will become another great opportunity (for either a quick big flip % or possibly a daily chart based swing trade)