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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

We Sunk the BIS!

chessNwine Mon Mar 24, 2014 10:50am EST 4 Comments

I sold down the final piece of my BIS long inside 12631 just now, which is of course the ultra-SHORT biotechnology sector ETF.

The bearish biotech thesis is one I have been advancing for a while now, selectively taking shots at BIS. I am now actively seeking to re-buy the bearish, levered ETF.

Here was my note to 12631 members just now:

Sold final piece of $BIS long @ $17.70 from $15.07 entry to lock in the rest of the win. Still actively seeking to add the position back as biotechs weaken and perhaps consolidate soon.

Which stocks are you trading this morning?

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4 comments

  1. spinner
    spinner
    March 24, 2014 at 11:07 am

    Chess, “Sink the Bismarck” was on WGN in Chicago a near-infinite number of times back in the day. I watched it every time. “Gentlemen, I don’t care how you do it. You must…sink…the… Bismarck.”

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    • chessNwine
      chessNwine
      March 24, 2014 at 11:15 am

      Very nice, spinner. And Nick’s English Hut in Bloomington, Indiana, also is known for the Sink the Bis drinking game.

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  2. Tpain
    Tpain
    March 24, 2014 at 11:41 am

    You nailed this. Great call.

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