I agree with your long-term direction in the next 24-36 months -- in fact I expect the Feb-16 $44.16 low to be tested in the next bear -- but this is a Bull's market until $69.21 is broken. I tentatively count 3 completed waves from Feb-16, and see no evidence that bio-tech is ready to completely break down.
gsfx111
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@Prometheus333, market crash, technical analysis, these are the two factors which will make this go in favor of my prediction.
faronf
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@GurekmannGill, Are you long LABD at this current time? I had a small position but just Stopped out today. I'm wondering if I should wait to get back in, could be just witnessing a correction... with a bigger shake out to be had later in the year?
gsfx111
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@faronf, I haven't taken a position because I went all in DGAZ, but I would have taken this position if my capital allowed it. Its a solid long term hold imo. Especially with the market crash.
faronf
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@GurekmannGill, cool, I F'd up and got out of D' way too soon. I'm actually quite mad at myself because I could've just set a tight trailing stop and I would've done exceptionally. I've never seen a Daily Cycle in Natty go this long before...completely through me off. Good trade holding onto that one bud!
gsfx111
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@faronf,yea that dgaz trade was crazy. I got out just a tad early but still secured a majority of those gains. I'll probably reenter after some retrace. Overall, xbi is a short for a while.
gmag
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what indicator are you using on the bottom.. (the red and green histogram)??