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Biotech stocks brokeout today. Its official uptrend for biotech. From this point forward buy the dips.

This is the chart I posted on May 30th. I was saying at that time that there are signs of a move happening in this sector and that new up trend is possible. I said it in a shorthand version really. After a day of trading and taking care of other stuff, by the time I get to posting on StockRake I don’t lay out my thoughts in a long winded format very often. However, I think there was enough said on May 30th to give a heads up for this move. More recently mentioned CELG.

Take note of the red monthly candle being eclipsed by the last 3 months of trading action. Today the biotech sector broke out. The posts I made on May 30th and the bitching I did on July 1st about a possible breakout across the biotech sector were made official today – to anyone that captured anything off this biotech move – I’m happy for you. PS the RUT for leveraged funds gained 7.4% woooo.

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