UEC corrected to .5 of the original trend, and printed a nice elliott in doing so. If price is moving in an elliott corrective wave, I expect more downside. The next fibonacci would be $2.50, which would be quite depressing given my January in the money calls based on my view of the market fundamentals. However, it also appears to have found strong support at the .5 level ($3.07), so a long DCA strategy would be long here, and long again at $2.50.
