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Huge Gains for Market Vector Biotech (AMEX: BBH)

January 26, 2012

Shares of the ETF Market Vector Biotech (AMEX: BBH) are in the middle of a huge rally.

Amazingly, BBH has now closed above its March 3, 2000 rally closing high of $121.38.

How high can this volatile ETF go? There is no way to tell but new highs are bullish until they are not. In other words, trade the rally but keep a sell stop just in case it ends, and they always do.

There is strong support at $121.33, the January 24 intra-day low. Interestingly this is within pennies of the march 3, 2000 closing high.

A stop below $120 would give a low risk trade.

The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Market Vector Biotech.

Posted on January 25, 2012 in Stock, ETF and Market Analysis |

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