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

[farooq]

Oh, sorry I misunderstood. Congratulation.
Stay Long is now at above 7.03 for Monday.

[jablome]

na homee i bought 1200 at 6.59 sold this am for +6% into the bank

[farooq]

I never saw it at 1200. Max high was 240 in 2015, it does not existed before that time. Closing above 7.25 make it bullish again. Signal is down from Tuesday.

[jablome]

1200 at 6.59

[farooq]

That is wonderful. System still long Stop is now at 7.21 on closing basis.

[monmon]

Ye sir, nice to see that. was about time, thx again. I'm up abt 23 %.

[farooq]

So we will be long.

[farooq]

Right now LABU is on sell, closing above 6.84 will keep on buy. It could easily go up 12% if close above that price by Friday closing.

[farooq]

LABU closed on Buy hold, Stop is at 7.02.

[farooq]

LABU opened above buy stop and remain in buy column, Let's see how it close.
Close above 6.71 is buy hold area.

[farooq]

LABU closed just below buy stop on Friday, It showed minor strength but as market need to see up move staying power so is it. It drifted lower. Buy stop is 6.70.
It is still on bear play ground.

[farooq]

As of this writing LABU is making 3 months 21 days new low. Is it good time to buy system say wait. Shorts are ruling buy stop from short is 6.69 on closing basis. Only good thing is we had second highest volume of the year two days ago, last one was probably May 9th. Usually that is indication of capitulation. We may rise in coming weeks and months.

[Jaydixson1]

This must be close to the bottom.

[farooq]

It closed at sell signal yesterday. I think in new bull market BioTech could be a leader. MM drop and take out every one before taking it to uptrend.I am a long term holder Via leaps and common shares but I trade portion of it through my system signal.
Initial short stop is at 6.77 and $7 or above closing is go long for today.

[Jaydixson1]

Wow. Labu is surprisingly low

[farooq]

LABU today we opened gap down below the stop. Stop is at 7.10. IMOP it is to take out weak hands and punish short term greedy options trader. There is huge open interest in options from 7 to 9 $ strike price, 75 % of the time they make them expire worth less Just my observation, seems say set up.
It could be new leg down, always protect your capital. I could be wrong in my assessment do your own D/D.
According to the rules if close below stop one need to take short position, or be out of position.
Good luck and happy trading.

[farooq]

We close above the buy and gaped up. Now in process of filling the gap. Closing above 7.14 says stay long do your own D/D. Any comments?

[farooq]

LABU become partially positive if we close above 6.85 but confirmation is 7.11 for staying long

[monmon]

Thanks again..waiting for a close at that level

[farooq]

It must close above 7.16 for long signal to continue.

[farooq]

We need to close above 6.85 to change sentiment and a close above 7.20 will bring crowed in the trade. Do your D/D.

[farooq]

As suspected they took the air out. Seems trying to fill the gap left behind.
Closed on sell.

[farooq]

LABU closed on buy signal, Stop is 7.70. On Friday it is difficult to trade careful.

[farooq]

Closing above 7.92 could generate a buy signal. Stop at 7.77.

[farooq]

I will not be available for one week.

[farooq]

Same story, stop @ 8.79. Go long is 9.39.

[farooq]

Market still in down trend. Stop short is at 8.80 for today.

[farooq]

All market long equity are in down trend, Fed has hanged the rest of the economy which Biden destroyed.

[PennyRookie0]

I know it's a rough day in the market, but what happened here?

[farooq]

Neutral.

[farooq]

The signal is long with a stop at 10.38 on a closing basis.

[farooq]

LABU on buy stop is 9.96 on closing basis.

[farooq]

Going on vacation till 8/21.

[farooq]

Closed on sell buy stop 45.68 on closing basis.

[farooq]

Closed on neutral.

[farooq]

Those of you who benefited from my posts and made some profit than I hope you will give 5 % of your profit to the charity of your choice for hunger elevation or soup Kitchens. Thanks.
Farooq

[farooq]

Remain on buy, Stop at 11.41 for today on closing basis.

[bleedpurple]

And then some!!

[farooq]

No update today but I think we will cross $ 11 mark today.

[farooq]

Point of least resistance was up side so it broke and went above previous recent high.
Stay long is signal, Stop sell 10.03.

[farooq]

Since they have achieved the $9 mark and above so now may be 20%chance is they close at expiry below 9 again, There is 15 % chance it to closing near or above $10.
Good luck and happy trading.

[farooq]

I think LABU is base building between $ 7.50 and $ 10 for a blast off to $15 to $ 16, It should end by second week of August.

[farooq]

If we close above $ 8.41on closing basis than a initial buy signal will be generated. Many will try to short this area for hope of yesterday repeat. I will not do it. My view remain same we could close way above $ 9 on August 5th.

[farooq]

We tried to go above buy point but smacked badly, I still think August 5th expiration could be above $9 mark, Yes Yes I was wrong many times, do your own D/D.
They bought calls in drove to short the stock, which require than only 5% margin.

[farooq]

I think it is going higher ultimately. According to system today closing above 8.54 would generate a buy signal.

[Trons]

New LABU Analysis

[farooq]

LABU close on buy stop sell is at 8.20

[farooq]

LABU 7/29 Expiration 9$ call is a lotto for 15 Cents. It should be bought that you might lose all. Other way buying 9 and selling 9.50 for 10 Cents debit which limit profit to 400%.

[farooq]

We did close above but option related activity pushed it down today,if they want to deliver at 9 they are going to make at least $1. I think they might close it above 9 $ tomorrow, although most puts are bought which favors closing below 7.50.
Take your line, I am long at today's low. 8.62 is still stop buy at closing basis.

[farooq]

We did not close above the signal, today numbers are 8.63 for going long.