Not much downside and a lot of upside. This one is not likely to drop much lower but could easily get back to the old highs of $41 or beyond. Notice in the detail chart that the pull-back due to the Euro $1bln package was a very clear correction, either wave 4 of an incomplete 5 up or wave 2 of a completed impulse wave. Similar attractive bear instruments exist under HSD and SDS just to mention one or two.