15Jan1:53 pmEST

A Battle Worth Fighting; Chess Moves

B7aXguRIgAEsK_n.jpg-large I went long BIS at $43.85 with a stop-loss below $41.50. BIS is the ultra-short biotechnology sector, which means I am now shorting biotech as a group. Some of the biggest components in the ETF are: AMGN BIIB CELG GILD, among others. Biotech has been a hot and crowded long trade for a while. Shorting the space has been particularly ominous for undisciplined bears. My style of quickly taking losses and scaling into fast gains has enabled me to play it fairly well over the past year so. Admittedly, I have been extremely selective in taking my shots. I will discuss the position in more detail on tonight's video market recap to flesh out my thesis.  

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