Hunting Biotech Short Squeezes

StatsEdgeTrading

Check out the video here: https://youtube.com/shorts/VcidIQAMu9o?feature=share

XBI 0.00%↑ recap

In yesterday's substack I mentioned that the biotech sector XBI 0.00%↑ was breaking out. Today we had some great continuation from that breakout.

Narrowing the universe

To start my hunt, I needed to figure out what bio or phamra-related names I wanted to look at. I know these names are dangerous on both sides. I decided to look at heavily shorted ones since, if I am right, they have the chance to cause a short squeeze to amplify returns.

For this I used trade-ideas short squeeze scanner; Check it out here

I settled on watching a few names but wanted to highlight VRDN 0.00%↑

Please note this is just what I am doing with my money and not a recommendation to anyone else. Also, Biotechs and Pharma companies are even riskier than other sectors, so be very careful with position sizing.