Need to be careful, UYG bounce is not a done deal, it can certainly go lower before it bounces. Even though UYG has the history of bounce back to 50 EMA, doesn't mean it can't go lower at current level, 27.92 is the 50 EMA.
I need slow down the speed of adding UYG. Cash is a good thing in this market. If there is another sharp down in UYG, will average down again. Unless it's a huge down move like March and January, then I may add all the cash I prepared for UYG.
GLD and GDX looks good now. While I am not sure about oil and agriculture, and coal.
POT and MOS had a meaningful pull back, but I didn't add, since I was too greedy and think I could catch it lower.
Tomorrow there is the USDA report on grains, and several reports this week, ahead of the holiday. So it's better to not make new mistakes than to use all the cash.
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