USLV update

In this post I called a near term bottom for metals and miners.  It could be the bottom or it could have been just the end of a 3rd wave.   I am not sure and so stops will be used to ensure that I don't lose any money on this trade.  All today my stops were at $44.40.  Tomorrow I ratchet them up to $45.10.  If the chart goes above "1 or A" then I ratchet them up again (after the first pullback following the new high) to $46.30.

I'm still looking for the Walk Away in May event which would be good for metals and miners and the end of the 2009 bull market for stocks.  It is not a given that metals will rally into this.  Prechter sees much, much lower gold prices.  The one thing that is guaranteed to skyrocket in an equities bust is TVIX and other shorting ETF like FAZ.