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

[farooq]

Still on sell, closing above 8.65 will give a buy signal.

[farooq]

Stopped out and now system is on sell buy stop at 9.03.

[farooq]

The system is long. Stop sell 9.11.

[farooq]

The system is long. Stop sell 9.22.

[farooq]

The system is long. 8.89 is now stop sell.

[farooq]

Did buy some yesterday at closing. System was on sell so my buy was not according to program. Buy stop is at 8.70 area. Will see if goes up there.

[farooq]

They might try to run the stop. System still short.

[monmon]

Farooq thx a lot, very useful your targets, for me at least

[farooq]

Sell was after open, will buy around 8.40 area, stop is 8.20 with projection around 9.88 to 10.

[farooq]

Signal close on long Yesterday, Sell stop at 8.35.

[farooq]

Whip saw is story here went from sell to buy and today at this writing on sell side. May be options related. Signal was long at closing yesterday.

[farooq]

Stopped out system on short term sell, buy stop 8.95.

[farooq]

Signal not changed, Stop 9.01 now.

[farooq]

Signal still long. Stop on closing basis is 8.55.

[farooq]

Stay long. Pull back to stop sell is possibility.

[BottomBounce]

https://www.proactiveinvestors.com.au/companies/news/985830/markets-bounce-back-as-us-investors-consider-a-softening-of-fed-policy-and-avoidance-of-a-recession-985830.html $LABU

[farooq]

Minor sell may not hit target. Buy above 6.84 on closing basis.

[farooq]

Today stop was 6.95 as it hit so I am out and short from same area could reach 5.78.

[farooq]

Still long, stop moved up to 6.50.

[farooq]

I am long so is signal. Stop closing below 5.47.

[farooq]

Attacking a price multiple time is a sign it wants to go above previous high.

[starkd748]

Looks toppy on the 4hr

[farooq]

It is aiming for 9.59 IMOP.

[surf1944]

https://stockcharts.com/h-sc/ui?s=labu&p=D&yr=0&mn=16&dy=0&id=p38090673899

On watch for a possible purchase in 4th quarter!

[farooq]

It was a curve ball for drop in price. It may take few weeks to reach last high. Stay tuned, too far down from mean.

[farooq]

Sold new buys and calls near high of the day. I will buy on Friday if we test 6 to 6.50 area again.

[farooq]

It defend the line and continue the trend. Closing above 6.06 is confirmation of bullish bias.

[farooq]

Seems difficult task. Market pretending to be weak. It may in reality also. LOL.

[farooq]

We tested upper R1 now testing Pivot. Need to close above 5.94 to keep going up.

[farooq]

I think we are going higher we are not going under 5. First stop will be 7.42 than 9.65 in about 3 to 4 week time frame. I could be wrong do your own D/D.

[farooq]

Agree, they are built for day trading. Decay is because of leverage used for them.

[Marketwise]

Terrible is the word for this thing. I am still looking for an initial entry under $4 (3.65 area) probably for a short term trade. Could eventually drop lower. The decay in these 3X ETFs is - for the vast majority of them - terrible; wealth destroying over the long term.

[farooq]

Almost there I wrote 10 option at time of buy seems they will not be exercised. Reduce buying cost. Now it could reverse split that will be terrible.

[Marketwise]

Under 8? I am looking for under four; perhaps this week. If we see it I will begin buying. A long way down from fifteen months ago but it is what it is.....

[tw0122]

Big trap here going under $8 again

[TaxiCaT]

It's been brutal. But a reversal here would be huge profits if it happens

[farooq]

Buying here @ 8.21. Filled at 3 cents lower price.
Relentless selling in most markets.

[TaxiCaT]

In this today at $9.07

[tw0122]

Loaded some $8.80s

[tw0122]

Ok last lot added at $11.06. Let’s see what happens Friday and next week.

[tw0122]

5th lot added at $11.48 40% of shares bought at this price. First 4 lots 10% lots each 40% of shares. So have room in budget for 20% more if we have a 15% drop.

[tw0122]

4th lot added $11.82s . 5th lot will be bought if we come 10 to 15%

[tw0122]

Added $12.14s lot#3
All about rate hike fear tactics but we know 10 year yield maxes out around 3.0 then market starts big bouncing

https://www.tradingview.com/symbols/TVC-TNX/

[tw0122]

Added $12.33s lot#2

[tw0122]

Let’s play again here. in some at $12.41. Thanks for bringing this into buying range. Flip it intraday

[tw0122]

Not done yet adding $12.18s that typical 15% move up or down on LABU(D) with volatility. Down to to low $12.40s average. Saved some for a 5th lot after hours or am tomorrow. Hopefully that is it for now

[Citrati]

Congrats. Way to lower that cost average.

[tw0122]

Added $12.60s and $12.30s earlier so average high $12.50s. Looking better now

[Citrati]

Time to set a higher low if topping on the 5minute chart happens near this 50period.
XBI in same situation. What will market have to say?

[Citrati]

Oh, and here is the XBI 5minute chart. Needs to give us an intraday double bottom here.



Ouch, couldn't bottom yet. Market going red stopped the push for now. Gotta see what market is going to do. If XBI can't get traction then likely LABU won't be able to do much. All IMO.