New STI Medical Profits Portfolio short term trading recommendation: UBIO
[from the 3/14/2016 edition of Smart Tech 50 Weekly Movers]
Buy ProShares UltraPro Nasdaq Biotech ETF (UBIO) up to $27, with a stop loss at $23. This is a short term recommendation based on the possibility that the biotech sector may stage a catch up rally to the S&P 500 in the next few days to weeks. If we are correct and this rally exists, we would expect the Ultrashort Biotech ETF (BIS) position that is currently open (see below) to be stopped out. UBIO is a leveraged ETF that rises and falls at 2X the rate of the Nasdaq Biotech Index (NBI).
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