Last month, Febr. 18th we warned that given the vertical rise in this ETF it might be advisable to get out. It actually peaked a week later. Here are the charts, then and now;
So far it has dropped $68 in less than a month, on $274 that is just shy of 25%. We have no idea what the count down is, just as we did not have one on the way up. It is too messy and looks a lot like Don Cox’s cascading waterfalls. Whatever it is, it is probable not over. Closer to $200 you may try your hand at a quick long trade for a 30+% rebound, but do not outstay your welcome. This one should go a lot lower over time.