$COMPX update

It counts like a 3rd wave but it lacks the character  Yes, it started angling downward but there is entirely too much chop and backfill in there for my taste.  I expect a 3rd wave - especially a 3rd of an intermediate degree 3rd - to show some real cliff diving like NFLX did.  Maybe not down 20% but a 5% gap down would not  be out of line for such an intrinsically volatile share index.  Besides, the market has to punish day traders who would be so bold as to sell at the end of the day thus avoiding overnight bad news for their short positions. The only way to do that is to gap down at the open.