JNUG update: we could see a major bottom put in today.

I'm starting my cost averaging routine.  Picked up first tranche at $3.39.  This is 15% of my intended purchase amount.  I do not plan to trade it until it at least quadruples from this level but I won't be surprised if it turns out to be much higher.  I hope that JNUG continues downward so I can continue loading up at these panic prices.  Cost averaging in slowly near the bottom is a very low stress activity because if you are a wave early then you still have plenty of cash to average down.  I do not generally average down.  I would rather average up because that allows me to set automated unwind stop losses until the chart proves that the turn has actually occurred. 
 
Whether my average cost is $4 or $3, I will still be deep in the green when this finally goes wheels up and takes to the skies.  If this turns green today then the bear market is likely over.  Target price, even if this is just the end of the A wave, is well over $30, more like $36.  Again, a trip down to $2.50 before this is over would absolutely make my year.  I doubt I will be that lucky though.

Watch for DJIA reversal today as well.  A break below 17380 would be a strong buy signal for TVIX.  I think it is very likely to happen today or tomorrow.  I saw some article that indicated how having a GOP congress was supposed to be good for stocks.  I think not!  Conservatives are going to begin going after the leveraged abusers of the past and it will involve criminal charges on individuals this time around.  After the midterm sweep that they received, the GOP know that the people want blood.  They want Obamacare dismantled in any way possible and these are all the mechanisms for increasing the debt.