[USLV] [HUI] update

At the backlink I provided this model for USLV:



Because of the big USLV selloff today it is clear that this model was wrong.  That does not mean the model was bad.  Those who use stops like I have been telling them to do were stopped out at $15.50 (just below the prior low). Why?  Because if 5 waves were really in then no lower low should be possible.  If a lower one does occur, the model is wrong and thus you don't just grit it out hoping for mercy, hoping for the best.  You take your loss and then wait for the next probably EW entry point.   Any other strategy will eventually leave you penniless.  Remember, the cards are stacked against you.  They know what your trading is like, they have computers analyze each person and they have characterized us all.  Why do you think the stock market needs so many high powered computers?

In any case, today's drubbing was a 3rd wave of some degree so I think we need to see a 4th and then a 5th and then jump back into for either an a-b-c into 2 of 5 of 5 or something much more exciting.

As always, improved odds are all you can hope for in this giant high stakes gambling fest known as the stock market.  There is no crystal ball even though sometimes I can put together an incredibly accurate string of wins using EW.  But it's always a risk, always a gamble.  So use stops and don't let small losses turn into big ones.

As for HUI, I'm surprised it hasn't tried to jump back up and kiss the neckline from below yet so I think that will still happen.  In any case, that H+S breakdown has a target of HUI 100 so keep that in mind if you see it.  Buy HUI 100!  That would be Avi's generational low for metals and miners.