Decent sell of in the market on the last day of the month and 1st quarter. Bio tech stocks were most interesting trades for the day as many names ran to resistance or nearest moving averages this morning and faded. I wrote in the last blog post that biotech bounce had some room until next resistance , well today, some of our bounce plays like CEMP, ISIS,JUNO found resistance . We were busy in chat shorting those with decent gains all day.
Biotech Etf IBB closed below 20 MA and now a bear flag construction in process as long below 20 MA . I will be watching biotech names again for direction. Ideally if we can get a green to red type of move at open it might open door for more weakness.If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders. You can also check out the testimonials from our students.
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