DUG update: drillers about to collapse.

Here is the link to my initial post on DUG.  As you can read there, I modeled that the drillers would soon begin a collapse.   Since DUG is an inverse ETF, the collapse can be played to the short side using it.

Since my original post at $43.54, DUG flew up to 58.50.  It has since come back down to as low as $45 but by my count that was just wave 2.  So we should expect to see rapid movement up now to a much higher high than 58.  In fact my 18 month price target is at least $150 and possible as high as $300 based on my current read of the wave count.

If you like news that confirms the wave count, look no further than this.