Direxion S&P Biotech Bull 3X ETF (LABU)

[Bacon23]

Looking for a pullback tomorrow. Wouldnt u guys think. Any thoughts

[value1008]

They have different components-- XBI has a lot of smallcaps; IBB is mainly large-cap biotechs and about 20% healthcare as i recall. As a result, the XBI is more volatile and obviously sold off harder from its high of July 2015 than did the IBB.

[Jakeyoo]

Why is this not following IBB?

[wz9ytp]

Another WTF moment. 10+mb build, Cushing 90% full yet oil's about to go + $35!

Edit..it went +$35. WTF!

[Bacon23]

This thing is taking off again

[Bacon23]

Yeah i kicked myself in the balls at least 3 times today

[wz9ytp]

Wierd action today on low volume. Uncertainty in the markets. A WTF moment!

[Bacon23]

I screwed the pooch this morning and sold because i was thinking it was dropping more. Then it popped.

[wz9ytp]

I still think so. May take more time but I still think so.

Refinery maintenance season is upon us. Less demand for oil, supply side overflowing. Tomorrow's inventory report is going to prove that. Watch for a sharp drop in WTI as of tomorrow 10:30.

As oil drops,.so will S&P and NASDAQ and, accordingly LABU.

Look at WTI's chart from Jan 2015 to now. When oil goes up, after maintenance season, we should get a really good run.

But.....

Maybe not.

Happy trades!

[wz9ytp]

I still think so. May take more time but I still think so.

Refinery maintenance season is upon us. Less demand for oil, supply side overflowing. Tomorrow's inventory report is going to prove that. Watch for a sharp drop in WTI as of tomorrow 10:30.

As oil drops,.so will S&P and NASDAQ and, accordingly LABU.

Look at WTI's chart from Jan 2015 to now. When oil goes up, after maintenance season, we should get a really good run.

But.....

Maybe not.

Happy trades!

[Bacon23]

U still think so. I was hoping

[value1008]

Me, too, unfortunately for all investors in biotechs and LABU. Those XBI lows of April-May 2014 ($39s - $41 area) are just begging to be tested and the HFT algos will most likely want to take the XBI down to see where support is this time around.

Just do the math on where leveraged LABU goes if XBI falls another 15% to 20%.
Not a pretty picture.....

[DR. EVIL]

Agree

[wz9ytp]

Thinking we see sub 5 within a couple of days

[DR. EVIL]

Come on down baby

[DR. EVIL]

Out at 6.46

[Bacon23]

Guess we shall see what tomorrow brings. Im holding some cash still to add more

[DR. EVIL]

In all honesty… I was driving to the doctors and placed ?the order on my cell phone so I had to make it a market order. The price was 41 but I got filled up $5.46

[Bacon23]

I should have grabbed some 5.40's but sat wth my thumb up my ass instead. Had a buy order in for 5.15$. I picked up some at 5.86$

[DR. EVIL]

If I hub wouldn't make it so hard to post a screenshot I would…

[DR. EVIL]

I get lucky every now and then…

[courtpuppy]

Easy to announce a buy at the low of the day 6 hours after it happened.
I call Shenanigans!

[DR. EVIL]

I guess I didn't have patients… Seems like an over reaction this morning so I just grab some

[DR. EVIL]

Picked up 5.40 earlier

[Bacon23]

Wish i had your patience

[DR. EVIL]

Definitely possible… I'm waiting for it to get below five

[Bacon23]

Yep. I had an order in allday at 6.05$ didnt fill. May just buy AH at 6.06$. U think we head down in 5's tomorrow

[DR. EVIL]

That's cool… What is it 4 for 1?

[Bacon23]

Just sayin

[DR. EVIL]

No big deal.

[Bacon23]

Reverse split march 24

[DR. EVIL]

This a trade. Nothing more...

[Jakeyoo]

No idea why people are confident with this just because of turn around on Friday. Check the IBB daily chart. A wedge is forming in a downtrend. When the wedge finished, IBB will retest 240. I am scaring you but talking about Technical analysis. Good luck to you all

[wingswomennbeer]

Amen to that.. . LABU and oil (namely ERX) are joined at the hip

Although with a break through the MA envelope, we're lookin good here... and we are right up against that wall for the past few days..

Great to see that buying pressure mid to late Friday

[THREE-DAY-TRADER]

Yep Yep - got it

[value1008]

All i can say is, "Watch the oilprice." If that crashes, i bet biotechs and other sectors will plunge back down.

[THREE-DAY-TRADER]

"Sector wake up"... We shall see yet.
It has been showing capitulation since around Feb 9 (when last posted)

[Bacon23]

Wonder if this 3 day run will continue. Thoughts?

[wz9ytp]

Most have around here. I've been playing contrarian tickers and been having some luck. TVIX has been my best though. Looking to buy back in tomorrow. This as well. Been keeping away from oil though...

[Bacon23]

I sure hope so. I been taking a beating recently.

[wz9ytp]

The way the markets went today you should be in the money tomorrow.

[Bacon23]

As of right now im all in. Ill be able to average down some next week when i get more cash. Bought some at 6.08$ and that took my average down to 6.51

[DR. EVIL]

Are you all in or can you average down when it drops?

[Bacon23]

Well shit. Any thoughts for a guy who has a 6.51$ average.

[wz9ytp]

Thank you.

But the timing of this ticker seems regular.

Buy at 10:00, sell at 3:00

[DR. EVIL]

For the time being, this is a good swing trade between the 4s and 6 region...the stock is on an overall down trade and will likely continue down going into the elections IMO. I'm playing it for a .50 to 1.00 move on a swing with size...

[value1008]

XBI -- has it (and LABU) found a bottom recently? Just in case OPEC talks on cutbacks fall apart and oilprice falls, stockmarkets fall, and biotech falls further, here are some of the other closing-price lows (adjusted) from 2014 that might get tested:

$44.35 on July 17, '14
$43.81 on June 4, '14
$42.87 on June 2, '14
$39.64 on May 8, '14
$40.19 on April 14, '14

$37.84 (intraday low) on April 15, '14, was the lowest intraday level for the XBI from that period.

[courtpuppy]

Still holding the $4.94s from yesterday

[wz9ytp]

I haven't studied the intraday chart yet but just glanced at it real quick. Like clockwork, there's been a peek around 3pm, I set my sell order and just sold at the intraday high if $5.69 (bought eod yesteday at $5.23).

You've been here a while now. Would clockwork describe the action here, kinda like TVIX?

Thanks!

[Bacon23]

Nice. Im sure come tuesday it will open back down by 5