In September HDGE completed a bottom before it soared as fear starts to take over this market. If the general markets hit their mania peaks in January of 2018, then HDGE should also contain an expanded pattern. Our present move up will need corrections and backfilling. In the end, I’m looking for 5 waves up in a Minor degree to complete a potential “A” wave in Primary degree. In order for that to happen, HDGE still needs to retrace and take out the $8.60 price level. HDGE goes up when stocks go down, so I will remain bullish on HDGE until the majority want to own some HDGE shares.
The crowd is always late, so jumping on the bandwagon at this time will give you the same results as the majority get, usually nothing! Even a falling wedge can be clearly visible, which are powerful reversal patterns at all degree levels. We still have time this year for HDGE to fill out a set of 5 waves in Minor degree, after which a huge correction will send HDGE plunging one more time.