... has now turned into a nice HT with E wave throwover which has subsequently broken back down through the top rail and is now testing the bottom rail. The odds support one final move into the $9.50 range before bottoming and that will be a very important bottom. If it moves down rapidly as shown below then stocks like ORIG should see new lows with ORIG flirting with the $1.00-$1.20 level. This would be a major buy signal folks because as soon a this bottom is in we are going to get serious percentage increases off the bottom in a very short amount of time according to my model. VNR, currently trading at $3.11, could dip down to as low as $2, maybe even lower for a very short time. I'm playing UVXY while I watch to see if this will occur in the oil patch and if it does I'm going long there big time.
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