[RUSL] update

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I just decided to check out RUSL monthly chart in log scale.  As long as we do not see a lower low here, this can easily turn into an inverted owl.  In other words, those two sharp spikes were the 3rd wave of panic and the 5th wave respectively and the inability to fall lower on 5 than 3 leaves us with a very strong double bottom.  This thing can be back at $60 or even $100 in very short order folks.  There was no fundamental reason to sell Russia except that the USA said so because of Crimea.  But attacking the Russian people has only made him more popular.  When commodities begin to rise, the world will want these sanctions off in order to keep oil supplies up and prices down.

It was falling oil prices and US attacks on Russia that made this collapse.  The reversal of these factors will un-make it.

Accumulate RUSL on the dip.  It's $13.30.  Maybe it will go to $11 one more time.  Maybe. 








But maybe not.  Whether $13 or $11 I think the odds say it's cheap.  Buy a dip and then set your stop just below that dip.  If you are wrong and that is not the bottom, you lose 1% and then you wait for the next EW-defined entry.  Then you don't think about that last 1-2% ante that you lost; it is gone.  Very soon I see this thing moving up.  When it begins to move up it will scare you at the speed of travel.  Russia is massively oversold and the USA is massively overbought.