As I mentioned in my newsletter, supports finally hold markets and allowed them to move up.

My long entries in biotechnology stocks mentioned in my newsletter moved well together with announced drop in Energy sector (I am still long DUG and short some Energy names).

Biotechnology sector is only one that is worth watching for long trades. It is strongest one in current market situation. See chart below.

Final notice: we are still in downtrend so I plan to wait a day or two for new short trade setups in weakest sectors.

This entry was posted on Wednesday, July 9th, 2008 at 4:37 am and is filed under ETF analysis, ETF trade setup, Stock market comment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.