Investing TIP: Shorting Biotech tomorrow: Here's why!

in money •  last year  (edited)

It was a great trading day! Made 18% shorting Natural Gas using DGAZ. Sold 50% today. Still expecting more down side potential.

Anyway, on to Biotech! I've been patient and waiting for Biotech to close below the 10 MA. I am expecting the daily cycle to make a low (DCL). I drew in a sine line so you can visualize the cycle that I'm talking about.

I expect price to BREAK the dashed black line. Its in the timing band to make a low.

I should have bought today , but missed. If I get a good entry tomorrow, I'll post.

Instrument: LABD (3X inverse ETF)
Entry: TBD
Exit: TBD

Have a great evening!

labu.png

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Good to see that other people are short on biotech. I made a call to sell IBB 2 days ago in my daily market update:

https://steemit.com/money/@tricksofthetrade/us-stock-market-update-monday-1-29-buy-avgo-and-sell-biotech

Follow me or upvote if you like this analysis or any of my other posts.

I took on a small position today.