USO update

Today's drop was expected by the model of my prior post on USO.  The count below shows a slightly more aggressive version which uses the 1-2-1-2-3-4-5-3-4-5 extended 3rd wave stutter step.  An eventual bottom in the $19.50-$19.60 range is still expected.

Note: these 5 waves down could turn out to be just 1 of 5.  I don't count them like that at present but one should keep it in mind.  The nature of the first big bounce off the bottom should give us a pretty good clue.  If this is just 1 of 5 then during 3, 4 and 5 of 5 we should expect gold to hit Avi's 105 price target which means miners could take another hit.  If that happens, buy big because that will have very strong odds of being not just "a bottom" but "Avi's predicted bottom".  If that is correct then this is a major, major bottom and the next wave up is blue sky for miners.  See the earlier posts where I presented Avi's HUI model for more detail.