[ORIG] update

Here is the backlink and below is the chart from it.  This model did not play out.  Instead, a lower low was hit than red b thus triggering stops.




But now I'm back at it looking for my next entry point on these shares and I model the bottom to be in within a day or two. Per below.




Again, it is not gut feeling that is telling me that the shares are very likely to triple from here over the next three months but rather my EW model which shows 5 waves down have transpired and so, at the very least, we should see 3 waves back up to the prior 4th and perhaps much, much higher.  Importantly, in the chart above, the green vertical representing blue 1 of 5 is now nearly the same length as blue 5.  Maybe 1-2 or possibly 3 days and this will very likely have put in a serious, serious bottom.  To be honest, I would rather play the long side over UVXY any day of the week IFF I think a real bottom is in.  It's a lot safer to do so for most people.  But most areas of the market are overvalued.  Only the oil patch is trading at great depression levels at this point.  It's won't last forever folks, deflation never does.