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

[value1008]

Absolutely crazy action on this one. I had been watching it since the last plunge to $62 and rebound up to mid $80s a few weeks ago and bought in on Friday at $58 avg, missed chance to sell in $65s, then had to watch it go to $50 this a.m. Sold everything in $59.90s for a small gain of $800.

"Coulda woulda shoulda..." and i would have made $5k easy in a couple of days had i sold even in $63s yesterday pre-mkt and bought in low $50s today and sold at $59.

I do think this should move higher, but there's been a lot of "bad news" algorithms plunging this down on chatter about drug price controls, the Biden admin waiving vaccine patents, and of course the big pullback on Nasdaq and tech.

I may put in some bids in low-to-mid $50s to see if more bottom-testing occurs on the XBI and LABU.

On the other hand, if Nasdaq and smallcaps show a continuing rebound tomorrow, XBI & LABU may jump right back up into the mid-to-upper $60s and higher..... We shall see.....