The Impenetrable Fort Biotech

With the IBB ETF flipping green this morning, bears continue to struggle even in a down tape to crack those leading, winning, if not steep, biotechnology stocks which have been on a tear for several years now. Until that changes, I am likely to keep my shorts focused on individual stocks, and when I do short sectors and indices I will have one eye on the exits if proven wrong. BIIB continues to be the leader off of which to key, in my view. 

Elsewhere in the market, WWAV and HAIN continue to be two specialized food plays in which I remain bullish. I view both of them as buyout targets, on top of being part of a growing interest of healthier food products. 

And Russia and crude oil remain a tough game for swing traders. Russia has head-faked to either direction, using the RSX ETF as a proxy, in recent sessions. At this point, I am on watch for a crude oil short via DWTI if we see a rollover. 

I mentioned GPRO might finally be ready for a bounce in my video last night. And with today's strength I am considering a day-trade long today, if we see an intraday consolidation which fits the bill.