Just wanted to repeat what Jeff posted the other night in case anyone missed it. I was mistaken…BIB is hurt slightly by an overall downward bias over the long term even though it’s historical performance is pretty nice. Being careful here and will probably get our of my covered stock position while it’s only down a little. This could be a good place to use the old Fitzpatrick 1 percent rule. Get out and wait…if the stock recovers to 1 percent above where you sold it start scaling back in with a tight stop.

Thanks Jeff!

Check out $BIS… inverse of BIB. They are both “Ultra”, 2x levered, so they would be subject to downward pull due to compounding. But Biotech has been generally bullish until recently (see NBI monthly chart) – so the BIB chart had been mostly up.