Back in my accumulation mode of 2015-2016 I happened across $LABU. I picked up a decent sized stock position at a basis of just over $6. After a lot of time gone by, a 1:4 reverse split, and a whole lot of nothing to show for it, the ETF is finally breaking out.
I still own some $PBYI, $ONCE, $GBT as well as some recent $MNK and $GILD calls (this morning).
Like any biotech rally, I’m sure it fizzles and turns to shit like all else…but the action in all these stocks on weekly charts looks like an initiative move. In other words, the start of something rather than the end.
Time will tell. Got any bio on?If you enjoy the content at iBankCoin, please follow us on Twitter