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In the 3/19 weekly strategy sum: "IBB may continue to drop into quarter end I suppose, but VRX reached its YS1 level 26.05. If that stops going down, IBB likely pops. If VRX below 26, then can still play IBB short."
Just the pivots folks. VRX reached YS1, with clear and high volume buying.
And here the IBB pop today.
OK this was not hard and not a standout call compared to the many others here. But what would you rather own - or crucially, not own, or perhaps short - today?
"If stocks fade then it is simple to reduce some recent longs from the last two weeks, or can hedge out via shorts on weaker vehicles so that means is still below most pivots ie Q1P, 1HP and YP. Right now on USA that means IWM, then IBB, XLF and XLE though oil has been on tear so careful with the latter."
DIA +.13%
SPY -.16%
IWM -1.55%
IBB -3.81%