AI
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| Alias Born | 05/09/2013 |
Wednesday, August 03, 2016 3:05:58 PM
I've still got LABD (bear-short biotech) on watch in regards to a Swing trade daily chart type of strategy... and I have been on sidelines since last week on ORPN, yet also I do have ORPN on watch for re-entry eventually.
LABD has been a flippable-day trade stock from Monday thru approx Tuesday (20-21's to 22-23's), but so far that's all it's proved. Still watching LABD for swing trade entry intent.
I was tempted the last couple days on LABD, but I'm still waiting to determine an entry point (for an intended daily chart swing trade).
An Important basic technical to keep in mind:
If the 20.50 (or 20+ approx) area holds on LABD yet past today thru this week yet, then it will likely be a good supportive sign for it and means market might be ready for an August correction lower.
Otherwise, in the mean time I'm not underestimating the bulls ability to resume uptrend a while yet on XBI(LABU) & stock market overall.
LABD has been a flippable-day trade stock from Monday thru approx Tuesday (20-21's to 22-23's), but so far that's all it's proved. Still watching LABD for swing trade entry intent.
I was tempted the last couple days on LABD, but I'm still waiting to determine an entry point (for an intended daily chart swing trade).
An Important basic technical to keep in mind:
If the 20.50 (or 20+ approx) area holds on LABD yet past today thru this week yet, then it will likely be a good supportive sign for it and means market might be ready for an August correction lower.
Otherwise, in the mean time I'm not underestimating the bulls ability to resume uptrend a while yet on XBI(LABU) & stock market overall.
