I agree with your long-term direction in the next 24-36 months -- in fact I expect the Feb-16 $44.16 low to be tested in the next bear -- but this is a Bull's market until $69.21 is broken. I tentatively count 3 completed waves from Feb-16, and see no evidence that bio-tech is ready to completely break down.
@GurekmannGill, Are you long LABD at this current time? I had a small position but just Stopped out today. I'm wondering if I should wait to get back in, could be just witnessing a correction... with a bigger shake out to be had later in the year?
@GurekmannGill, cool, I F'd up and got out of D' way too soon. I'm actually quite mad at myself because I could've just set a tight trailing stop and I would've done exceptionally. I've never seen a Daily Cycle in Natty go this long before...completely through me off. Good trade holding onto that one bud!