The idea behind value is a provocative one. You cannot escape its gravitational pull easily. It takes a serious force. This morning the sellers did not possess a serious force so back to value we go.
Right when the market presses to the edge of liquidation, a strong bid launches the market higher. These are difficult conditions for a short bias. The pressure moves have been to the upside for weeks.
Biotech breached its low and immediately reversed. Now I am forced to tighten my stop and potentially revisit this idea from higher prices.
You have to respect a well-defined bell curve mates:
