12.23.16 Elliott Wave Updates For ETF’s: $NUGT $IBB $FAS $TNA

NUGT – A good strategy that plays out well in Jan is buying the worst stocks and ETF’s that underperformed for the year like NUGT and playing the January effect…with NUGT I’d wait until the very last trading day of this year which is coming up, and buy as low as possible in anticipation of the short covering/bottom fishing in Jan…$3-$4 would be a good buy

IBB – IBB broke above the top of the B wave an hour ago setting up a potential W3…one move past 275 could setup a move over 300 by late Jan

FAS – [ms-protect-content id=”61,117,1559″] FAS formed 5 waves down in the past 3-4 days, and a simple break above the top of the B at 41.90 would setup a reversal back over 43

TNA – TNA has formed 5 waves down and a break over 104 would setup a W3 move back above 106 or 786 of the C wave [/ms-protect-content]