HXU March 6 update

HXU march 6

For 4-5 months now I have been anticipating a level of $6 on the HXU. The chart above is on a log scale to “fit”the data a little better. Where I am wrong is that on the downside the moves get progressively smaller and consequently you do not go as far as you would expect on the inverse product ( this is the double up TSE). Anyway one can over analyze. There are a number of good reasons to by this at about $7 if it even gets there. I do not think there was a triangle but if there was we are pretty well under the apex. The size of 5 is about the same as one. We are down 50+% on the XIU (the “normal”counter-part to this one). The market is noticeably tired of being bearish etc. etc. Target, my guess, perhaps as high as $16. No guarantee of course.