Biotechnology Shares - IBB- Daily - Sell Signal Triggering Today

It isn't the easiest thing in the world to sell short a market that is rising as strongly as IBB has here lately. However, when a trade is "hard to take" and it is following a set of rules, then it should be taken. The rules involve my personal RgMov indicator, which has failed to confirm the new high in IBB. Granted, that may make it seem like a terrible indicator if it can't make a new high on a move up like this, but that is saying that the rally is not as structurally sound as other times.

The Risk is 1 average range (use the 11-day ATR calculation = looks like it is at least 7 pts).

Downside potential is whatever the price is when CCI reaches -100 and -150.

Tim 3:11PM EST, Monday, November 3, 2014 - so 3/11 on 11/3

Commento:

I see I missed the 6 month breakout of RgMov just prior to this short term divergence.