Direxion Daily S&P Biotech Bull 3X Shares (:LABU)

Strategy Session October 17th, 2016

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LABU Weekly Chart

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  • CHOFF: $LABU - working, up another 5% today since reversing yesterday. Holding. $CRM - still going up into earnings on Monday. Will likely sell 1/2 profits tomorrow and keep the rest. $DXCM - still climbing daily to fill the gap. Looking like I'll have to raise my target.
  • bigbartabs: @CHOFF $LABU $CRM $DXCM ... I got caught with only half a postion in $LABU this morning. I should have bumped it to a full position at the open... but I had so many alarms going off that I didn't get to it.
  • CHOFF: @bigbartabs $LABU $CRM $DXCM - Sold 1/2 my position at $70 when my stop was hit (it was too tight). $LABU must be respected or it can burn you in a hurry...so I don't think it's awful you only had a 1/2 position. I'll be looking to add again tomorrow.
  • Jeff3: $LABU?
  • Henry: @Jeff3 $LABU what about it?
  • stairm01: @Jeff3 $LABU I nibbled in on LABU this morning at 64.00. This may be bouncing finally. Will watch and sell calls against it.
  • CHOFF: $LABU - the big 4 of biotech are up affecting the XBI ($CELG, $REGN, $BIIB, $GILD) after selling off on a lackluster ER. I bought 1/4 at $66. Missed my two prior entry alerts.
  • CHOFF: $LABU - watching closely for the first sign of a reversal. $LABU, $XBI, $IBB are having one of the largest daily declines since March 21st. $LABU is at $63.50 and the 200ma is at $61. $IBB is slightly below the 200ma RHRN. NP currently.
  • champ: @CHOFF $LABU $XBI $IBB ---- Or...maybe this could be a good Entry...$LABD...???
  • CHOFF: @champ $LABU $XBI $IBB $LABD - I'm looking to enter $LABU, not $LABD. The last time it dropped below $60 I kicked myself for not buying. That said, I will wait for signs of reversal first.
  • Vehid: @CHOFF $LABU in @ $64.90
  • Jeff3: $LABU
  • champ: @Sluggo $XBI --- Also take a look at $LABU but this is a 3 X's.....look at the holding on both and see what you think. Your right for gamblers, on individual stocks, you really have to know, whats going on but even then you could still get hit over the head with a bat, on a overnight swing. For that reason, I only trade these ETF's but I never swing overnight...#Never and I mostly always use $LABU, long and $LABD, is for shorting.
  • Sluggo: @champ $XBI $LABU $LABD #Never Well, I agree with you. I am not negative on using the Dirextion 3x funds, I just use them when I am pretty sure the indexes are going up. There are not holding indexes, just short term plays,
  • champ: @Sluggo $XBI $LABU $LABD #Never --- When I'm in these trades you really have to pay attention/babysit because they can turn on a dime, day traders are at work in these trades and when they are working, I'm in with these bandits and I become one.
  • issues: @woodman $MZOR excellent. Thanks again Woodie. I added to $MZOR $AEIS and $ABBV. Sold $LABU $SAIA $GBX
  • bigbartabs: @woodman $XBI ... sold my $LABU pretty early this morning. So far... a good move.
  • bigbartabs: $LABU $XBI ... starting to look a little nasty today.
  • bRobert: @bigbartabs $LABU $XBI There are some select bright spots. Consolidating before next move.
  • bigbartabs: @woodman $XBI ... yes, I'm holding a full position of $LABU... I was hoping to have a 150% position by now, but as many other strong stocks, it just won't pull back far enough to let me snag my buy limit. But I'll get over it :)
  • stevef214: @rck89 $IBB just saw your post looking at IBB post. $LABU is the 3X ETF if you did not get a reply yet.
  • rck89: @stevef214 $IBB $LABU Yes, I got it...thanks. Any thoughts on biotech?
  • CHOFF: @ab3250 $XBI - heading into potentially rough waters with Trump's anticipated announcement about an exec order to curb pharma prices. He said last week at a news conf that he would announce something this week (hasn't happened yet). Prices dropped in the $XBI, $IBB, and most of my biotech watchlist as he spoke. I've tightened stops and reduced in bios in the interim. If someone was itching to buy $XBI, it is on the 50ma rhrn. You can always take a page from Dan's book of setting a 2-3% stop under the 50ma and see if it bounces. I'd wait to see the trend confirm a reversal before I bought though. Historically if I saw the trend shift away from $XBI and $LABU, I bought $LABD to offset my losses until the others reversed. It's worked well for me but requires a lot of attention and active trading. Good luck.
  • woodman: @CHOFF @ab3250 - $XBI $IBB $LABU $LABD - I am on the sidelines with biotech. I have one -$DVAX - but sold all my others starting when $XBI failed to hold the 21dEMA. I sold my last one (other than DVAX) today. My plan was and remains to sit it out until we get the supposed announcement on drug pricing action this week. At the same time, Democrats, frustrated that Trump isn't moving fast enough on drug prices, introduced a bill today on negotiating Medicare drug prices. It doesn't have a chance of passing without Trump's support. But, regardless, it's a lot pressure on Pharma/biotech in the short term.
  • Jeff3: $LABU $SOXL ,Trading commentsi?
  • CHOFF: $LABU rocketing out of the gate this morning
  • DAN: @CHOFF $LABU Yep. Biotech is tops on my watchlist today.
  • champ: $LABU $90 ...working and I'm in on the open....up about 6% ....Spec Day trade....
  • TRICIA: #IDweek2017 hey all, the bug stocks are presenting today..$AKAO, $TTPH, $PRTK, and a few others it helps that the $IBB, $XBI, $LABU are strong ---- The 3 I mentioned have significant catalysts 4thQ17 and 1Q18 ....
  • issues: @TRICIA $AKAO $TTPH $PRTK $IBB $XBI $LABU #IDweek2017 Thank you Tricia. I thought we had lost you. I remember your picture here in the Forum with your baby years ago. Your baby is probably now a toddler or older.... I think the best of the bios is $XBI (up 11% in 3 months compared to $Ibb 8%) from looking at the charts. We have 1/2 in $XBI, sold $ibb last month. Hold many in that sector and bought $CELG today thanks to our dear mentor Dan and his post today.
  • champ: $LABU ---Working again this morning and has now bounced $3.50 off the low....but zig-zagging
  • CHOFF: @champ $LABU -sold the zig, looking for another zag
  • champ: $LABU working and has now bounced $3 off the low.
  • bigbartabs: $LABU ... as much as I hated to.... I sold in 2 pieces today.
  • stevef214: $LABU Oct $80 calls, added on second positive 15 min bar, stop just below entry on add
  • stevef214: $IBB clean B.O. Oher biotech names working well. $RGEN up big, NP. Long $LABU Oct calls and $ESPR
  • champ: $LABU ----OUT ...took profits....will take another look at it in the morning.
  • bRobert: @champ $LABU Nice trade.
  • bigbartabs: @champ $LABU $XBI ... the foothills... much nicer now. We had weeks of over a 100 degrees. Nice to be getting fall temps. I keep telling my grand daughters that they better do a lot of swimming... cuz its about to end :)
  • stevef214: $LABU starting to BO of a month of sideways movement. Long at $81.17 for day trade or might swing it. Stop now at entry
  • champ: @stevef214 $LABU @ $83.25 up 5% ---- I guess we are the only ones in this ETF today....could be getting a little #more rotation into this sector, this ETF's has been more or less flat for the month of September, consolidating....could get another leg higher., its at around a 2 year high RHRN....might even BreakOut.
  • champ: $LABU @ $84.09 HOD, up 5.6% for now and I'm still holding my full position.
  • traderbren: @champ $LABU - nice! Long $IBB calls.
  • debeers: @champ $LABU --nice and good for you!
  • stevef214: @champ $LABU #more Yep, do you think you will swing it or get out at EOD
  • bigbartabs: $XBI $LABU ... if waiting for a pullback... this might be the only pullback you get. I would be sure to have at least a little.
  • bigbartabs: @champ @stevef214 $LABU #more ... there are at least 3 of us.
  • champ: @bigbartabs $LABU @ $83.50 --- I sold near the high but I'm now going to swing a 1/4 position size. The sector looks positive and I would like to add back to full size in the morning but I could take a loss., on this new position. LOL
  • bigbartabs: @champ $LABU ... looks pretty safe to me... strong charts. Also $XBI
  • champ: @bigbartabs $LABU $XBI --- Yes, it sure does but you never know. Hows the weather up their in the foothills, its almost time for your cocktail hour, on the deck. It has been hot down here in Monterey but we cool down to 75 RHRN and we are on the ocean, as you know. We had a few days of over 100 and more than a few in the 90's.
  • JJT1: $LABU I see upsloping neckline IHS pattern forming here? Anyone else see this?
  • Junior1: @JJT1 $LABU what's your time frame?
  • Chops: @JJT1 $LABU Yes, I see that too and a flag pattern on the daily and weekly chart.
  • CHOFF: $LABU - bios woke up today...triple index hit a new high at $81.80. Old favorite, $BLUE still in upward trend.
  • bigbartabs: @bRobert $XBI $LABU ... yes, certainly extended. But these seem to keep fighting to the top of the chart. I've sold all but a small position... waiting for a pullback... or a breakout above to add.
  • bigbartabs: $XBI $LABU ... seems coiled to go higher.
  • bRobert: @bigbartabs $XBI $LABU flagging. A bit extended above the 50d on the daily. Nice weekly.
  • champ: $DJI @ 21,987 ---- Markets are really strong and it looks like they are going to follow Europes close and close in the Green, along with the Asia/Pacific markets but the Hang Sen was down a little and the Shanghai B was flat. I use these markets for ...
  • bigbartabs: @woodman $SMH $SOXX ... as of yesterday I have a full position of $LABU. We'll see if this can keep pushing up or time for a pull back. Its come a long way. Cheers brutha...
  • CHOFF: $LABU about to cross ATH above $76 RHRN
  • champ: @CHOFF $LABU--- It just seems like over the last 8 days, this is a Great trade to get back in every morning....I have a position.
  • CHOFF: @champ $LABU - me too, been in and out over the last couple weeks. Wish I had just stayed in the whole time, but hey, can't complain about profits. Question is, when will it top out today?
  • champ: $LABU up over 7% now...still holding....I have not been watching the bio names but they #Must be on the move again today..
  • CHOFF: @champ $LABU #Must - sold at $77.30 for better or worse...nice ride
  • champ: $LABU ...HOD...WOW... but it should keep zig-zagging....higher would be good.
  • issues: @champ $LABU ya think?
  • issues: @CHOFF $LABU I may come down a little in a phase 2 but the trend is definitely up. Fast Money really gave it a thumbs up along with big tech!!
  • woodman: $LABU @bigbartabs - congrats, buddy!
  • champ: $DJI $SPX ---- Here's another one thats working $LABU....I hope everyone is watching my stock list, that I have been posting about because all are having great moves.
  • CHOFF: $LABU - big rally today after dropping AH yesterday. Patience and fortitude are essential to own this one....that or really tight stops. Thought today would surely punish stocks...very strange market. Reminds me of family I've got in Houston. When there is a break in the rain, don't get comfortable, it's time to act before the next deluge comes. All stops raised...and moving to high ground.
  • champ: $LABU @ $68 ...HOD up over 8% but expecting zig-zags ...still holding.
  • CHOFF: $MZOR up 12% today. Sold 1/2 for profits and raised stop on other 1/2. I suspect the $KITE acquisition has all the biotechs thinking they are going to be bought as well. Volume has picked up in quite a few names. An old favorite, $BLUE is on the run (up 10% today). Still slightly underwater and holding $LABU (up 8% today).
  • bigbartabs: @champ $LABU ... I liked that the $XBI closed Friday right on the 50dma, sending me into the weekend with a full position of $LABU. Now I'm watching the 3rd deviation UBB.
  • champ: @CHOFF $VEEV ---- I never heard, that the market normally gets it wrong but I have heard many times that traders normally get it wrong on the first move....and on many other moves after. This ETF is the trade $LABU, with less risk, when Bio stocks are on the move.. IMO. You might catch a bounce trade but remember, if it happens, it will be in and out, in most cases. Might be time to just move on...?
  • champ: @audrina0904 $VEEV $LBAU .....sorry ...$LABU but only when its time....LOL
  • CHOFF: @champ $VEEV $LABU - well yes, "traders"...the market is always right. A bit of semantics in this context.
  • CHOFF: $XBI and $LABU crossed above the 50ma....we shall see if it sticks tomorrow.
  • Robert1965: $LABU up 5.9% closed at 64.51 +3.98
  • CHOFF: @gilman23smm @issues - The $VIX dropped 1/2 point today vs a typical pullback of a couple pts the day following a massive spike. $VIX is still overdue to climb back to the historical avg around 20. I'm long a number of things but I've started hedging with puts on $SPX and looking very closely at puts on $XBI or $LABU. Hope @Iceman is right about a strong Monday because I didn't protect as much I wanted to today and my longs could use a boost. I'm anticipating more selling to come shortly whether it's Monday or the weeks to come.
  • CHOFF: $LABU looks like it's standing on the edge of a cliff contemplating stepping off (on the 1yr daily chart).
  • Hank1: $SPXL $BABA $V $CURE $LABU $BA $TECL $FB ... sold down these positions (80 to 100%) to raise cash and protect profits. Now is not the time for being Nacho Libre. Raising stops on aerospace and defense stocks. 60% cash in my trading account and I'm wondering if its too low. In any case, looking at this pull back as another potential opportunity.
  • JBed: @Hank1 $SPXL $BABA $V $CURE $LABU $BA $TECL $FB I'm 75% cash, don't think it's too low. The geopolitical situation is too uncertain.
  • bigbartabs: @bRobert $XBI ... I had sold my $LABU yesterday... but when it took the dive down again, and was right on top of the 50dma... I bought it back. So far so good. I will be out fast if it goes lower than that today's low. Good luck...
  • CHOFF: $LABU back on the 50ma RHRN.
  • bigbartabs: @CHOFF $XBI $LABU $LABD $CLVS $PRAH $LJPC $IBB ... I often use $XBI for my $LABU moves. $IBB isn't as mirror image to $LABU as $XBI. Yes, LABU is a fast mover, and I have screwed up several times not setting my stop quick enough, thinking it would never get there before I noticed. I've been wrong several times.
  • bigbartabs: @ROSEY $XBI $LABU ... I bought a little back at the close. We shall see. By the way... $CLVS, the biggest position in XBI, is right on the 50dma as well... so it that bounce happens... LABU, XBI are likely to take off as well.
  • Dan1946: $LABU - still on the fall .....
  • bigbartabs: $XBI $LABU ... looks like a bottom. Once they touched the 50dma, they were strong back up all day. I would have liked more volume... but maybe that comes tomorrow.
  • JJT1: @bigbartabs $XBI $LABU I am in $XBI so right there with you. Need an up day.
  • spmeyers: @bigbartabs $XBI $LABU $IBB $UBIO is stronger
  • CHOFF: @bigbartabs $XBI $LABU - Noticed the reversal earlier around noon EDT and closed my $LABD hedge for a profit. I kept a large position in $LABU based on a similar thesis to yours. The small bounce off the 50ma and bottom bb is compelling enough for me to run with it. However, $LABU has not adhered to the 50ma that often. If $LABU doesn't pop, it's got a long way to fall before finding support. I'm placing a stop at $60. $CLVS, $PRAH, and $LJPC are all in very similar chart positions on the 50ma and the bottom bb. Part of me wonders if $IBB is the better benchmark to watch since it's not triple weighted. It still has a ways to go before falling to it's 50ma.
  • ROSEY: @bigbartabs $XBI $LABU Sold $XBI today and hoping i did not make a mistake.
  • bigbartabs: @grcjr $IBB $XVI ... I use $LABU, watching the $XBI... but at the moment, a small position. Biotech is not a place to be until it shows a bottom. Pretty ugly. Good luck...
  • CHOFF: @grcjr $IBB $XVI - the charts of $LABU, $IBB, and $XBI are near mirror images. However, the % volatility is much lower in $IBB and $XBI. It's anybody's guess whether these lift today to stay in consolidation (more or less) or drop to next area of support. I've been bloodied with $LABU. Thankfully I bought a 1/3 position in $LABD as a hedge when it started going south...saved me a fraction of my $LABU position. If $LABU can bounce back above 62.50 to stay in consolidation it would be significant or it's surely headed another 2 pts below to the 50ma at minimum or far lower.
  • bigbartabs: @debeers $LABD ... are you still short $LABU with $LABD? Can't make up my mind where to be... if anywhere with biotech.
  • debeers: @bigbartabs $LABD $LABU -First things first-- I saw you prancing around in 4 inch heels (the ones with the maribou trim) and NO logger ever wore those. Second, LABD is a day trade only to keep me from freaking out with $EXAS
  • bigbartabs: @debeers $LABD $LABU $EXAS ... no way. 4" heels hurt my calves. Especially when I go run.
  • Vehid: @Dan1946 $LABU $LABD Happens to me so many time. So, don't feel alone! As soon as hitting enter, price starts moving in the wrong direction.
  • CHOFF: Nasty 5% pullback in $LABU today. It's still trying to find a bottom. Appears to be headed back to $68 before resting. NP
  • Lynda: @CHOFF $LABU I don't know why is down so much, I just lost 3% in a few minutes. I sold it fast, something doesn't look good.
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Stock Price $USD 95.52
Change 4.34%
Volume 1,342,860

The investment seeks daily investment results, of 300% of the performance of the S&P Biotechnology Select Industry Index ("index"). The index is provided by S&P and includes domestic companies from the biotechnology industry. The fund normally creates long positions by investing at least 80% of its assets in the securities that comprise the index and/or financial instruments that provide leveraged and unleveraged exposure to the index. These financial instruments include: swap agreements; options on securities and indices; forward contracts; reverse repurchase agreements; ETFs; and other financial instruments. The fund is non-diversified.

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