RE: Got a bad feeling8 Jun 2016 17:47
as always who knows, its all a guess, but im standing by my data release on the 17th (or 16th), and my feeling is we will drop until then, the small bounce was just shorts covering, the vol on that was very low on the nasdaq chart.
biotech is broken, but it wont go down in a straight line, we have fallen out of the up trend range we were in, which to me at least is a very bearish move.
tbh i'm happy about it, as mentioned before i would rather it drops, so that if the data is positive the bounce will be bigger and draw more people in due to the potential headlines, like last time.
if we had popped over 100, then sell the news was a possibility in my mind.
so imo we have about 6 or 7 trading days to go, possibly taking us down to $80, but i could be wrong, obviously.