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Strategies & Market Trends : Wolfgangrene's charts -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (3003)

3/19/2016 2:51:22 AM

From: John Pitera

Respond to of 3976

and then I went on a rant at the bottom on Feb 8th and said the IBB index should be an excellent at least for a long trade. Heck it was posted to you.!!

Message 30447199

The problem with the IBB and biotechs is that they are in the crosshairs of this years election cycle, as they have had a piss poor rally and I don't know if we can expect much until we get some clarity on the Presidential election.

o: The Ox who wrote (17710)	2/8/2016 2:40:44 PM
From: John P	2 Recommendations of 18000

so last summer we had the IBB at a blow off top with a 4 standard deviation of it's 200 DMA.

Now we have the IBB having a massive bear market and pulling into it's 200 WEEK Moving average just below this area...... It is now getting overdone and we should certainly see short covering occurring in that area..... We are at an area that should be an excellent buying opportunity.......... for traders you have an opportunity to look at longs with a stop

If China is going to have a large currency devaluation..... and or we are seeing a major Banks like Deutsche Bank , Credit Suisse... BNP Paribas blow up or one of several Asian banks then we take have this even more significant market debacle.

as you most profoundly have stated a number of times... we should be watching what the markets are doing.... and evaluate the data and price action as time unfolds.

John