From the UVXY side, the threat is that this first wave up will be an expanding wedge and if so then C of 5 is almost done. Profit taking is warranted until I see how this is going to play out. I can always get back in.
Friday, August 21, 2015
[UVXY] update
I'm to the sidelines to see if we get a good pullback here. Out of UVXY at 38.52 for > 22% gain on the day but would not be surprised if peak is $40. The $COMPX chart below suggests that we are due for a reversal to kiss the falling trend line from below. Maybe that happens today, maybe Monday.
From the UVXY side, the threat is that this first wave up will be an expanding wedge and if so then C of 5 is almost done. Profit taking is warranted until I see how this is going to play out. I can always get back in.
From the UVXY side, the threat is that this first wave up will be an expanding wedge and if so then C of 5 is almost done. Profit taking is warranted until I see how this is going to play out. I can always get back in.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment