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

Strategy Session June 2nd, 2016

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LABU Weekly Chart

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  • natural: $LABU trim on this pop.
  • MongosPawn: $AGQ $LABU $INZY $AI Added a little.
  • Nepenthe: @bigbartabs $TNA Been stalking you. I missed the TNA and UDOW, but have healthy positions in $TQQQ, $SPXL, $LABU (trimmed some this morning) and your old favorite from a few years back when you bought around Christmas, $SOXL. Your insights into these put me on a healthier financial path, for which I'm very grateful, and one of these days you'll get that beer and burger. Cheers.
  • bigbartabs: @Nepenthe $TNA $TQQQ $SPXL $LABU $SOXL ... glad you are doing well with the index 3x ETFs. At the present, I'm only in the 4 index ETFs. Mainly because when the entire market is on fire, why not just pile into the indexes with bigger money... rather than trying to pick and choose sectors that we wouldn't put nearly as much money as indexes anyway. I found years ago that if I just stick to my knitting, and concentrate on the indexes with bigger wagers... and watch those wagers closely... I do much better than have a ton of single tickers. All those tickers take time to manage... and that can burn you trying to juggle it all when we have markets like we have now. Drives a man to drink... (during market hours! :)
  • Nepenthe: @bigbartabs $TNA $TQQQ $SPXL $LABU $SOXL I don't really need an impetus to drive me to drink; I do fine on my own in that department, even during market hours, which I extend to the nightly strategy session with the requisite libation. But, yes, I agree with your approach. For years I floundered with many tickers and little to show for them until one day while sipping wine at Nepenthe's I read your post on the subject of beating the S&P, and realized I wasn't, and that I'd have to change my direction. Especially at my age--70 now--why waste valuable time with little reward. Anyway, there you have it. Cheers
  • bigbartabs: @Nepenthe $TNA $TQQQ $SPXL $LABU $SOXL ... roger that good buddy. Where the hell did the time go? You got me by a year!
  • MongosPawn: $LABU Continues to find support at the 8 dma.
  • shoredriver: $LABU.....nice.....
  • MongosPawn: $LABU Added small. Long.
  • Nepenthe: @woodman $XBI $LABU I do miss the pre-split price on LABU. Kind of nice buying all those shares at $3. Bought some more yesterday in the 80 dollar range, with an attentive eye on the XBI's 200ma. Cheers.
  • natural: @Nepenthe $XBI $LABU I miss the daily chart, which looks like garbage now due to the reverse split
  • woodman: @natural $XBI $LABU - Rely on the $XBI chart for your $LABU trades. Leveraged ETFs, like LABU, aren't good/accurate indicators, IMO. Better, IMO, to make your trades based on the underlying 1x than the 3x's.
  • natural: @woodman $XBI $LABU Good point, and I try to do that mostly. But when I'm flicking through charts on my phone, it's frustrating. Long $LABU over here.
  • Nepenthe: @natural $XBI $LABU
  • Nepenthe: @natural $XBI $LABU What woodman says! I use the XBI as well. On the weekly it's running into resistance at the 50ma, and on the daily I'm looking around 81 or so. Already taken a bit off today to lower CB. Cheers.
  • Onthemark: My strong ones today: $CCL, $ACHR, $PTLO, $OLLI, and $LABU
  • Wolf: $LABU Looks like a reverse split aound 20:1, but don't see it on the chart or news....
  • Henry: @Wolf $LABU https://www.direxion.com/press-release/direxion-announces-reverse-splits-of-tmf-and-labu
  • stairm01: @Wolf $LABU Yes, a 1:20 split. Shows up on my extended hours charts.
  • wijimmy: @Henry @WOLF .... $LABU 20-1 rev split closed at $4.21 Friday should be $84.21 price to start the day ???
  • natural: Lower rates benefit the many parts of $LABU. Chart looks good pretty good here.
  • woodman: @natural $LABU - $XBI - I agree with that. I'm noticing what looks like a turnaround in the smid biotech sector. We'll see if its for real - it's down for a long time - but I am heartened for now. https://www.youtube.com/watch?v=bJuDD93JbOw
  • Onthemark: $LABU with rates falling it really benefits the small cap bios. $LABU at HOD and the volume over the past 15 -20 days has been huge.
  • bill52: $IBB $LABU so far this morning another solid move staying above the 50ema. Biotech liking the prospect of no more rate increases (hopefully).
  • Onthemark: @bill52 $IBB $LABU Yes!, Long from below and added
  • bill52: $IBB $LABU Noteworthy. a couple bio tech ETF's I follow and as of today, both are trading above the 50ema. haven't seen this since back in the summer. certainly not out of the woods by any stretch but a positive development in a badly beaten down sector. maybe a green shoot. have a small position to keep it on the radar.
  • MongosPawn: $BBAI $LABU $BITF Added. Long.
  • Onthemark: $SPRY, $LABU, $ETHE, $COIN and $GBTC Long and added to each
  • Nepenthe: @woodman $DHT #Tankers $XBI once again above the 50ma. Took some more $LABU with a possible ride to the 200ma, stop below 50ma. Cheers.
  • Wolf: $LABU Flirting with the 50DMA on higher volume. Breakout got rejected on Wednesday. No position , but watching.
  • bill52: @Wolf $LABU I'm right there with you on that observation. Its flirting with the 50ema for sure, but agree that i need to see it push through it decisively with volume.
  • Nepenthe: @woodman $AI Indeed. Also, I know you follow $XBI, and it seems to be experiencing a "trend break", both on weekly and daily. I'm back in $LABU from around 2.70 and will sell and add accordingly. I believe you closed out you $LABD position? I do admit that I look to you, Champ, and bigbartabs for thoughts and ideas. You, along with a few others, seem to have the 3xETFs dialed in. Cheers.
  • woodman: @Nepenthe $AI $XBI $LABU $LABD - You're correct, I am not in $LABD. I feel like things may have shifted in the biotech world, though we'll see what happens with XBI and this current move up through the 50d. I note that XBI is hitting descending resis ...
  • Nepenthe: @woodman $AI $XBI $LABU $LABD Yes, they are more involved in various ways, but I know you follow biotech and are a good monitor for the sector. I've done quite well with $LABU, following a lot of your posts. Keep 'em coming, and thank you for all your contributions. Cheers.
  • SophAgogo: @Robert1965 $FNGU Yes !!! along with $SOXL and $LABU. I was taken to the woodshed with $LABU, lesson learned. These leveraged ETF's demand careful attention.
  • Motorman: @SophAgogo $FNGU $SOXL $LABU Yes, Been holding never quite sure when to sell. What is the unleveraged $ETF it follows, like $SOXL is to $SMH?
  • bigbartabs: @Motorman $FNGU $SOXL $LABU $ETF $SMH ... FNGS is the 1x to FNGU... XBI is the 1x for LABU.
  • Nepenthe: @woodman $ETNB $XBI $LABU By the way, I know you've been wisely shorting this, but I'm playing it now for a ride to the 50ma. One ugly chart. Cheers.
  • woodman: @Nepenthe $ETNB $XBI $LABU - I had been shorting via LABD on occasion. Not currently. Looks like the pattern has been broken. And anedotally, I am seeing good action in a lot of individual biotechs I follow - some of which I've been planning to buy or buy back after selling them some time ago due to the carnage. A few with some catalysts in December. This has been the Biotech theme song for a long time (but maybe it's finally changing): https://www.youtube.com/watch?v=bJuDD93JbOw
  • traderbren: @woodman $XBI $LABD - I was just taking a look at $LABU ....fugly, but it may catch a bounce here. NP
  • woodman: @traderbren $XBI $LABD $LABU - the sector, in general, has been a train wreck.
  • Nepenthe: @woodman $XBI $LABD Agree. I'm looking at 61/62 on the weekly for the next level to try $LABU; should be around 2-3 dollars at that point. Cheers.
  • oldtimer: @bigbartabs $FLR $RUTAX $UNG $XLE $BOIL $XLV $CURE $ITA $DFEN $XLRE $DRN $XLI $DUSL $ERX $XLF $FAS $FNGS $FNGU $XOP $GUSH $XBI $LABU $ITB $NAIL $GDX $NUGT $XRT $RETL $SMH $SOXL $XLK $TECL $XLY $WANT $DJI $UDOW $SPX $SPXL $NDX $TQQQ $RUT $TNA thankyou for getting back to me
  • bigbartabs: @oldtimer $FNGU $XOP $GUSH $XBI $LABU $ITB $NAIL $GDX $NUGT $XRT $RETL $SMH $SOXL $XLK $TECL $XLY $WANT $DJI $UDOW $SPX $SPXL $NDX $TQQQ $RUT $TNA ... no problem. No system is perfect... but I've found that finding a process that matches up with what the majority / herd of seasoned traders stay within, is what you can depend on most. Finding that process is the key. The sad part is that it usually takes a lifetime to figure that stuff out! I've been trading for around 20 years now... and still feel like an idiot at times. Good luck... all the best...
  • bigbartabs: @oldtimer $FLR $RUTAX $UNG $XLE ... @oldtimer ... Of those pairs that I tend to track $UNG/$BOIL $XLV/$CURE, $ITA/$DFEN, $XLRE/$DRN, $XLI/$DUSL, $XLE/$ERX, $XLF/$FAS, $FNGS/$FNGU, $XOP/$GUSH, $XBI/$LABU, $ITB/$NAIL, $GDX/$NUGT, $XRT/$RETL, $SMH/$SOXL, $XLK/$TECL, $XLY/$WANT ... only $XLE $XOP are close to being above the 8dema. Also, $UNG is tough, since it doesn't correlate well with 3x $BOIL I always track the 4 index pairs... $DJI/$UDOW, $SPX/$SPXL, $NDX/$TQQQ, $RUT/$TNA... of which none are even close to the 8dema. The only one that could be worth starting a position is $DJI, that bounced off of the 200dma. All the best...
  • MongosPawn: @woodman $ARDX $LABU Safe entry point on that bounce off of the 200 dma. Will sell that batch if it breaks below that point for a 5 cent loss.
  • MongosPawn: $ARDX Added a little $ARDX and . . . wait for it . . . took a little $LABU.
  • Onthemark: @MongosPawn $ARDX $LABU Poor down and out $LABU, interesting spot for a tiny starter perhaps 100 shares to get it on the radar. It has actually traded at a higher value than yesterday's high.
  • woodman: @MongosPawn $ARDX $LABU - ARDX, after the week-plus pullback, it is once again bouncing off the rising support area/bottom BB, which now coincides with the 200d. It's been doing this.
  • DougL: $XBI, $LABU catching a bid - rotation
  • bigbartabs: @DougL $XBI $LABU ... careful with $XBI... right up against resistance at the 7/6/23 low.
  • wijimmy: $LABU, $XBI .. No Love in Biotech Land ... The Onslaught continues
  • woodman: @wijimmy $LABU $XBI - $LABD - You are very right. Despite my keen interest in the sector, and my owning several select names in the sector based on research and catalysts I've posted here, I also have a position in $LABD. Though I think the sector could start turning around in the fall, that's a guess/hope. I'll believe it when I see it. So for now, playing it to go down more.
  • wijimmy: $XBI, $LABU .. OUCH under all averages $XBI head and shoulder pattern ?
  • Nepenthe: @bigbartabs $DT Yeah, prior to the open I thought the portfolio would be as golden as your hills. Though mostly playing with 3xETFs, thanks to your insights about outperforming the market, I added to $RIOT (oops), $CRM (so far, okay) and almost to $DT (seems to be rebounding a tad), but mostly got smacked around by my little spec stock $AQMS, due to one of those inconvenient common stock offerings (did add though at the low). You might be right about the market, and I cut back on some $TNA, $SOXL and $LABU, and will keep a close eye on $TQQQ and $SPXL Nonetheless, it's been a golden year and one of these days you'll get that burger and beer I promised years ago. All the best to you as well. Cheers.
  • wijimmy: $LABU , $XBI ... both going
  • MongosPawn: $LABU Nice bounce on volume. Long from above and below.
  • wijimmy: $LABU, $XBI Lots of selling here, watching for a bounce off 200 day on daily and 50 day on weekly for $XBI
  • jwstich: $XBI, $LABD, $LABU @Scottrades any thoughts
  • scottrades: @jwstich $XBI $LABD $LABU Potential Bottom Fish, but I'd wait to see if it bounces first.
  • phgruver: $LABU bumping up against resistance at $7.60. It couldn't break through yesterday, maybe today is the day. I dipped a toe in the water....
  • Onthemark: @phgruver $LABU Been adding on the way up.
  • wijimmy: $LABU .. BOOM
  • bill52: $LABU pushing back up to prior near term resistance. want to see if can break out or stay stuck in a range. $DFEN making another nice push higher today. with the debt ceiling stuff behind us (for now), have to think this should give defense stocks a bit of room to work. Also, @Woodman article on the alien space ships can't hurt. I have to admit it is interesting stuff. Thanks Woody for sharing.
  • champ: $NA $LABU $FAS $QLD $TAN $GUSH......nice sectors moves and it looks like both Investors and Traders are placing their bets.
  • champ: @champ $UPRO $QLD $NAIL $LABU $FAS $TAN $GUSH......
  • champ: @champ $UPRO $QLD $NAIL $LABU $FAS $TAN $GUSH...$FNGU...
  • champ: $LABU $FCX....Watch for Entries.....
  • MongosPawn: $LABU $ARDX Added small.
  • stairm01: $LABU Just went long LABU at 6.08 off of the $6.00 support. Stop below todays low of 5.98. Previous resistance is now solid support, until it isn't.
  • stairm01: $LABU Back at $6.00 support. Will it bounce again?
  • stairm01: @stairm01 $LABU Stopped out.
  • sbw1: $LABU cleared last weeks high
  • phgruver: @sbw1 $LABU Interesting, but 20% of the fund's assets are invested in fixed income securities. That doesn't say a lot for biotech....
  • bill52: $LABU this took a beating this morning but starting to get back on its feet and grind slowly higher. Taking position for a day trade or short swing depending on how it acts.
  • wijimmy: $LABU ... running ...Lots of green
  • vcondry: $LABU wish I had bought early morning but glad I already had some $XBI rollin
  • champ: @vcondry $LABU $XBI....The way to #Chase is,...just add-on and Trail, the add-on, for those who have Working Capital, to work with. Thats how the #Professional-Traders work...... .....however that goes for all Traders, they can't work, without Working-Capitol either.
  • MongosPawn: $LABU Continues its recent move. Long.
  • bill52: $LABU another good day. added a bit more at a couple points through the day. chart looking more productive that it wants to continue.
  • champ: $LABU...had Entry this morning at $5.83.....Trailing.
  • sgiseller: $LABU sold partial @ 5.99
  • champ: $LABU.....this is the only ETF, that I'm holding and I don'y really know why, however I'm going to hold this, into that High risk Rate Decision....only because I think, that this is Low-risk...but I don't really know why.........
  • Nepenthe: @champ $LABU Well, I'm heavily in it also, even added once the $XBI--FINALLY!--broke above the daily 200ma. Whether it closed above, remains to be seen, but if it does, I guess that'll become support. Someone mentioned yesterday that biotech companies report next week, so we have that to look forward to. Cheers.
  • wineinquirer: Sizing up "All My Children" $XBI $LABU Huge slew of biotech earnings up coming this wk and next so be careful with choices, position size and entries. Also, lots of complacency out there and while we're short term outsold (and could rally a little more), we're heading into an intermediate overbought condition (which usually results in anything from churning with lots of paper cuts to a pullback) AND the Feds announce their "intention" on Wed . Remember those days when your girlfriend (and parents) wanted to know your intention? Just a random thought!!
  • RiccardoB: $LABU full position. stop $5 So far higher low on the 3 months. could be a nice 50% gainer
  • MongosPawn: $LABU Could be a higher low. Maybe. One can hope. Nice move today so far. In from below and above.
  • sgiseller: $LABU back in @ 5.70 day trade
  • sgiseller: @sgiseller $LABU out @ $6 I'm done for the day
  • sgiseller: $LABU Buying back @ 5.72
  • sgiseller: @sgiseller $LABU short lived and out
  • Nepenthe: $XBI $LABU XBI nearing the 200ma., 82.47. Curious to see what happens. Yesterday, fell back, today? Cheers.
  • sgiseller: $LABU closed @ 6.03 for a nice 1 day gain, sold some puts to grab premium and a possible reload
  • Tlluride: $LABU breaking out
  • success: @Tlluride $LABU I show a price of 5.96 that it needs to break through . .
  • vcondry: $XBI $LABU looking pretty interesting here with pretty definable stops/risk
  • sbw1: $LABU moving
  • mharps: $LABU finally a little move
  • Onthemark: $LABU a little life in this ETF today
  • wijimmy: $LABU nice volume,, good move … But does it still have legs ??
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Stock Price $135.78
Change 2.53%
Volume 1,174,980

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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