Due to problems with their quirky software, I was unable to post an article on Seeking Alpha so instead I sent a Market Flash email to my email subscribers the evening of Wednesday, April 6th, 2016. (Note: To be added to my free email list to receive me market flashes and weekly newsletter, just email me).
In the email I explained why it is a great time to buy the bearish triple leveraged Biotech ETF (NYSEARCA:LABD). I first listed a link of an article written by Ken Goldberg, found at the beginning of this article. I tried to post the link here but that feature still does not work. I then posted a chart of IBB. I cannot post the chart now because that feature is not working either. I pointed out how IBB was approaching $290 resistance, which happened to be a 50% retracement of the recent high of $340 and more recent low of $240. However, in the meail I explained how I wanted to be long LABD. Due to technical issues, I cannot post that chart but suffice it to say that the next morning LABD bottomed at $35.41 and rallied to $41.83 on Friday before closing at $40.27. If you are interested in where I believe we will be going next, you can contract me and I will send you a copy of my newsletter and updates.
Disclosure: I am/we are long LABD.