Monday, April 11, 2016

Biotechnology (XBI): So Now What?

Being right has disadvantages, very annoying ones, too. Like Barry Marshall who proved that bacteria cause stomach ulcers, or Robert Chambers who wrote about evolution before Darwin, or Hannes Alfven and his theories about galactic physics. The point is, these people all suffered ridicule for their ideas and were eventually exonerated, albeit not necessarily in their lifetime. But you're left wondering what happened when they were exonerated. Were people expecting them to make some further prolific pronouncement and lead them forth? No, they generally had some interesting world changing ideas but it kind of ends there. In the case of Robert Chambers, you may have made your point but you are still left with stomach ulcers and not much idea about what to do with them now that you have them.

This is the place I find myself now with Biotechnology (XBI). So far XBI has stayed beautifully within my unaltered channel and has been rejected by two important resistance lines. My Trix and stochastic indicator lines have begun to point downwards and I have long warned, oddly like Janet Yellen, that biotechnology was overvalued and needed to go down. It has started this journey, but now what? Will it make a lower low? Is this only the 'C' wave in a five wave ascent? I'm interested in knowing what other people think because unfortunately my ideas only got me this far and I'm not certain where it's trending next. I must admit, it's a nice bit of validation to have something follow my lines and patterns so closely but now that the ideas have run dry I'm getting ulcers think about what comes next!