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IBB tanks and a couple other trading set-ups

January 11, 2017 by Cody Willard

I thought to myself just yesterday, “Self, it might be time to add another tranche/reshort some more $IBB shares. They are up big since Trump got elected and I still expect at least some big rhetoric about drug/health care pricing.”

But I ended up thinking that I’d better not rush into it. So of course —  voila now $IBB‘s down 4% today and I am kicking myself for not having just done the trade yesterday!

@RobertMarcin posted a new Scuttle. “Trump just said that pharma companies will be held to competitive bidding by the federal govt, the largest buyer of drugs in the world. Stocks trading off on the news.”

I still might short some more IBB and/or buy some puts on IBB, but not today while it’s already down 4%. I also might end up nibbling some $PI if it gets back below $30 soon. I’m not in a rush to add to $AMBA just yet, as we all know how wildly volatile that one can be and I’m still just going to be patient with that increasingly relatively small position.

It has been an active week in the Trading With Cody Chat Room with lots of discussion and sharing about new stocks, old stocks and what is happening in the markets. Don’t miss out on today’s live Q&A where I will be there answering your questions. Fire away!!! If  you can’t join me for the live Q&A submit your questions to support@tradingwithcody.com and I’ll get them answered for you.

Related posts:

SNAP flunks the first day IPO test
Trade Alert: Health Food Scale (and best two stocks for the Wearables Revolution)
Cody Kiss & Tell: Trump & Clinton, Hedges, Apple calls & more
Cody's Top 5 AI stocks, the future of RFID, AMZN/GOOG earnings
Revolution Investing analysis: This ain't your grandaddy's banking system
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Filed Under: Trading

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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