Swing traders need to know where money is flowing, and the easiest way to do that is continually analyze strong and weak sectors. Currently while in the midst of a tough market, biotechnology is breaking out to new highs. That is where the smart money resides.
There are two ways to play this. First is to look for a good entry into a biotechnology ETF like IBB or BIB, likely on pullback to the breakout level. Second is to move to individual stocks and pick a stocks with the best setups for long entry.
I will watch how IBB handles a retest of the old high at $280 for a trade entry.
I will watch how IBB handles a retest of the old high at $280 for a trade entry.
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