Based on the way the UVXY             has been trading as of late, it looks like it will maintain this current range (lime green lines) for a little longer. One more move up between $35-36 then it will meet the top of the current trend (green line) as it crosses the longer term downtrend that has held since 10/16/2013 (red line). I really don't think the red line will be broken. Last time this line was hit, it dropped fast (which just so happen to be 10/16/2014, just a year after this downtrend line became the top. I would short at the red line and buy to cover around 26.50. I would short again around 32.50 at the red line again and hold for the BIG drop. 65+% return... IMO             .
Also an intersting side now. The top of the down trend formed on 10/16/13 and touched 10/16/14 and plummeted. The only other time it touched? 2/5/14. I had the top marked at 2/4/14- so maybe I was a day off? Get ready to short! you can go long her until we get there as well if you want. Trade safe.
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