Thanks for the feedback.
Instead of trying to bottom fish, I might be smarter to wait for a breakout to the top side of that channel.
Back in March, Peter Grandich suggested to buy;
DOG (proshares short dow) and
PSQ (proshares short qqq)
Since then, DOG is -5.5%; PSQ is -10%; HDGE is -8.6%
http://stockcharts.com/h-sc/ui?s=HDGE&p=D&st=2014-03-07&en=today&id=p76152235482