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The BIB(ProShares Ultra Nasdaq Biotechnology Index) is finishing out the week on a high note.  The index is less than $1.00 away from posting its best weekly close since mid October.  The current set up is quite bullish.  We consider the BIB a low risk buy near current levels.  A close back $55.00 would violate the April low sending a clear warning sign that the 200 day moving average is still weighing heavy.

At time of publication we are long BIB in some managed accounts.