UVXY: Long EQUITY

We don't have much time left in the day, and as far as the market goes, I don't see much right now that really makes me want to take a position either way for Friday, I may revise this after seeing more data develop with the limited amount of time we have left, but I'm guessing Friday will likely open and hang around the Closing level of today assuming that all heck doesn't break lose in Egypt and don't forget the  Greek Deadline as well as the NFP, there's a lot of stuff coming up.

This position is an equity long for the very reason that the near term is so unpredictable, but in a timeframe that really counts and is along the lines of the timeframe that we have seen that has suggested a downside move in the market, this is a strong signal.

I would take an option position "IF" I could quantify the timing which I can't, not with all of these events that the market can't even discount.

However, as far as a 3x leveraged ETF (UVXY) I can withstand any short term drawdown if it comes to that and I don't have time decay and other stuff creating strong draw-down, but the biggest reason for the UVXY long is quite simply these charts.

Position size will be 2/3rds a full equity position.

 UVXY 15 min

UVXY 30 min

VXX 15 min

VXX 30 min

XIV which is the opposite or inverse of VXX and UVXY, 15 min

XIV 30 min

That's enough confirmation for me.