FEATURED CONTENT

Bull or Bear Market… Doesn’t matter

Kyle Dennis’ new, 5 Min Strategy is poised to double Your Money Weekly!

Michael S. made 173% with Dollar Ace. So can you!

 

Raging Bull podcast: Taylor Conway says that IBB is due for a fall

RagingBullRagingBull ·

Taylor Conway, lead day trader at PennyPro.com, said that Monday’s market action and the ongoing rise in biotechnology stocks highlighted the iShares Nasdaq Biotechnology ETF (IBB) and its inability to break through resistance levels. If the ETF fails to move upward again, Conway said he expects it to drop, potentially by as much as 30 points, going back down toward recent support levels. In this “Off tthe Charts” segment, he said he would play the Direxion Daily S&P Biotech Bear 3X Shares ETF (LABD) as a means of playing the pending decline, setting tight stops and creating a good risk-to-reward potential on the trade.

#-#-#

   Taylor Conway is the lead day trader at PennyPro.com. He is a short-term trader of stocks and ETFs. At the time this interview aired, he had no shares, options or open orders in IBB or LABD, and had no plans to trade the ETFs, having researched biotech stocks to gain background information on an industry with individual issues he was looking to trade. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.

You may also like

Exclusive System Tracks Wall St. Insiders

“Dollar Ace Simply Exposes Information That Wall Street Wants To Keep Quiet” Said Kyle Dennis
“One member, Wesley M., has already reported 360%+ gains in just a few short days. Don’t miss this!”
(Reserve Access Now)

“What Recession?!” Jason Bond nets $55,060 in realized profit in One Day

After going 6 for 6 on profitable trades recently, we caught up with Jason to ask how he did it.
Check out Jason’s exclusive interview revealing this tightly guarded strategy. (Watch Now)

RagingBull.com Co-Founder, Jeff Bishop, Launches High Conviction Trade Service

“We listen to our clients and we give them EXACTLY what they want, so we designed a service to deliver 1 trade, 1 time a week, with a 100%+ PROFIT TARGET, directly to your inbox every Monday before the market opens. (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles
START NOW