I'm just now into UVXY @ 25.80 with very tight (20 cent) stops based on the DJIA pattern. Either DJIA begins to collapse into the final hour of trade or the bearish model on DJIA takes a big hit IMO. We have 5 waves down into red 1 and what could easily be WC2 if the chart will now just break the top and lower rail and then head down below the top rail of the large HT today.
I probably won't hold overnight again tonight (like I didn't last night) unless we get some kind of breakdown into the close.
Tuesday, February 10, 2015
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