BIOTECH BEAR ETF LABD: FUND MOVES INTO BIOTECHS AFTER LIQUIDATING PRECIOUS METAL STOCKS $LABD $XBI $IBB $GDX $GDXJ $DUST $NUGT
This post was just published on ZYX Buy Change Alert. Please see the Morning Capsule for apparently a fund moving money from liquidating precious metal stocks into biotechs. This explains the move lower in LABD. The real reason for holding is a potential Trump tweet or mention in his speech tonight of drug prices. In our analysis, the probability of Trump mentioning drug prices in tonight’s speech is low. However as the Congress moves towards repeal of Obamacare, details may have a negative impact on biotechs and pharmaceuticals. LABD buy zone remains $9.50 to $12.52. First target remains $19.50 to $20. The second