I'll have charts out in a few minutes, but I believe as posted last Thursday that the breakout move was indeed a planned out head fake, which I'll address in more detail in the upcoming post in just a few minutes. For a BIS long (2x short NASDAQ Biotechs), the $26.50 area could easily be used as a stop, it's a great entry, low risk and appears to be well timed. However I don't like obvious stop levels such as $26.50 or whole numbers like $26, so I'd rather take fewer shares (position size) and have a wider stop or at least a less obvious one).
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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