Got lucky again on [UVXY]

As luck would have it, the overhead resistance that I warned about proved to be the top of wave 1 or A.  So now we should expect, at the least, a pullback to 2 or B at the 38.2% fib before reversing strongly into 3 (EWI) or C (Avi).

I have been absolutely killing the turns lately on several stocks.  I bailed on UVXY at yesterday's close for 29% gain, sidestepped this AM's 10% opening pullback and then bought back in near the low to ride it right back up to the high of the day before bailing and sidestepping the pullback that is in progress.   Yes, part of it is luck.  If there is no game present, even the best African game guide with all his years of experience will mean nothing.  But you just have to admit that there is more than a little something to Elliott waves and technical analysis in general when you see someone able to document this kind of trading in real time.

Well, tomorrow we find out if my good luck (which itself ebbs and flows in waves folks) is holding.  I hope to be able to get back in around $40 and then hit at least the $55 mark while still in 3 or C.  Time will tell.  Keep in mind that the down sloping blue overhead resistance line and the $50 level are both likely to be important to the herd so they will probably both get taken out during 3 or 3 if my model is correct.