Lunchtime Observations and a Chess Move

Despite the weakness in healthcare and especially biotechnology issues today, names like OREX illustrate the danger of shorting individual names in that space here. That is one reason why I prefer to go long BIS for shorting the sector, in lieu of individual names, especially with the elevated risk of wild short squeezes and M&A activity at any given moment for a sector in a potent bull run. 

We already profiled AAPL and BABA in early blog posts today, with their own respective analyses still in play. But for the Nasdaq at-large the move above 5,000 yesterday is being faded so far. However, it is way too premature to call for a massive bull trap, just yet. 

I am still looking at DUST as a long for a way to short the gold miners here, especially if this weakness below the GDX 50-day moving average holds into this afternoon. 

And UVXY is tempting as a day-trade long for a volatility pop, especially if it can hold over $17.80 in the next hour or so. 

UPDATE: I went long $DUST at $14.61 with a tight stop-loss below $14.30. New blog post to come...