Friday Morning Update The Short-Term Trade Alert below was posted on the PRO website about an hour before the close on Thursday. The trade is still in its early stages with the expectation that after months of laggard behavior UVXY is prepped for a robust rally. The Fibonacci price projections on this first chart are based upon 5-minute intraday trading from yesterday's gap down open. We should get longer term projections as this leg up in volatility unfolds. Short-Term Trade Alert: UVXY UVXY has broken out above its short-term trend line coming down from the March 8th high at $23.47. This is a most basic pattern recognition trade signal: Trend line break out and using a close below the (just broken) line as a stop. On a highly leveraged instrument like UVXY, the reward side of the risk:reward equation is huge. Buy Signal: UVXY Options: May 20th $12C (2.35-2.40) May 6th $13C (1.50-1.55) - Aggressive risk:reward May 6th $15C @ $1.05-1.10 - Added to list Friday AM - Ultra aggressive Targets UVXY: $16-22 May 20th $12C: $4-10 May 6th $13C: $3-9 May 6th $15C: $5.00 Stop 50% (Call)
