HNU update, GAS update

HNU june 2012

Fortunately we recommended selling at $14+, see previous blog. If the a-b- is correct, a new low should be forthcoming, after a 5-wave move. There is already one there but not yet complete. It is a buy soon and certainly under $8.

GAS, the other ETF is just a little clearer;

gas june 2012

The counts are not clear on either, but in the case of GAS the latest drop down looks a lot more like an a-b-c, which is corrective, perhaps a wave 2. It should then not make a new low!