$COMPX update

We are really still in no mans land.  While there is a negative bias to many news items, a clear breakdown has not been confirmed yet.  If we really are ready to break down, we should see a 3rd wave gap down attack the lower rail in the chart below.  But if the blue line gets broken out of then I would go to the sidelines with any shorts and let it play out because we could get the red line shown. 

While the model below is not currently my primary, it can turn into the primary very quickly.  Thus, I will be selling TVIX on any market gap up Monday.  I will also likely sell it if the blue line below is broken out of.  I know this "only one more wave up" gets old but it will be the same thing on the way down.  It will just keep going and going and going down.  So hang in there, crew.  Stay diligent, use stops and remain paranoid until at least we get a confirmed breakdown (TVIX is a higher high that $4.20).  Patience, fear and discipline will be rewarded here.