Now it seems the assumption is right, so I sold other stocks (cmcm) which had been hit by FaceBook stopping it on the platform, changing the assumption of CMCM, to buy more IBB.
By end of 2017.02.10, there were 14 units worth of USD 3980, with an average price of 284.4 USD , including commissions.
A few days ago, IBB charts and the portfolio (r&d) in my computer program showed that the bio sector was going down. All the average lines pointed beautifully downward. Also the other sectors had moved up a lot since early Nov. when D. Trump became US president, but bio sector has not gone up. And its representative company Gilead Sciences showed the similar behavor, it went down from 75 to about 73. I lost some money betting on Gilead to go up.
All the information above pointed to a further drop.
So I shorted IBB with all available funding, with leverage, like USD 16K in Interactive Broker.
But yesterday, it jumped a lot, and today it went up further, and quickly broke its declining line around 270 (yesterday).
So for 3 reasons, I closed the trade, all -62 lots, at 73.8 USD.
1st: I was not proven right (as expected IBB to go down quickly )
2nd: It went up , reverse the downward trend, broke the line.
3. Both Gilead and Dow and S&P 500 are all going up.
The chart is here : http://www.ausinkong.org/backend/wp-content/uploads/2017/01/IBBChart20170104.png
I lost about USD 400 +.
Then I bought (long) IBB with all available leverage in Interactive Broker, +48 lots.
The assumption is: IBB has changed the months long downward trend, and is going to play the catch up game with the rest of the market. The other sectors of the market have gone up a lot, and will keep going up, but bio sector will go up much more.
Now it seems the assumption is right, so I sold other stocks (cmcm) which had been hit by FaceBook stopping it on the platform, changing the assumption of CMCM, to buy more IBB.
By end of 2017.02.10, there were 14 units worth of USD 3980, with an average price of 284.4 USD , including commissions.
The trending is like going up now. So I bought 2 lots in InterActiveBrokers, with a total value of about USD 566.
The trending is like going up now. So I bought 2 lots in InterActiveBrokers, with a total value of about USD 566.
A few days ago, IBB charts and the portfolio (r&d) in my computer program showed that the bio sector was going down. All the average lines pointed beautifully downward. Also the other sectors had moved up a lot since early Nov. when D. Trump became US president, but bio sector has not gone up. And its representative company Gilead Sciences showed the similar behavor, it went down from 75 to about 73. I lost some money betting on Gilead to go up.
All the information above pointed to a further drop.
So I shorted IBB with all available funding, with leverage, like USD 16K in Interactive Broker.
But yesterday, it jumped a lot, and today it went up further, and quickly broke its declining line around 270 (yesterday).
So for 3 reasons, I closed the trade, all -62 lots, at 73.8 USD.
1st: I was not proven right (as expected IBB to go down quickly )
2nd: It went up , reverse the downward trend, broke the line.
3. Both Gilead and Dow and S&P 500 are all going up.
The chart is here : http://www.ausinkong.org/backend/wp-content/uploads/2017/01/IBBChart20170104.png
I lost about USD 400 +.
Then I bought (long) IBB with all available leverage in Interactive Broker, +48 lots.
The assumption is: IBB has changed the months long downward trend, and is going to play the catch up game with the rest of the market. The other sectors of the market have gone up a lot, and will keep going up, but bio sector will go up much more.