Here's the backlink in which I modeled a rapid bottom and then the start of a large recovery. Well the dip went down to $28 instead of the $30 I modeled so it is clear that this thing is loaded to the gills with shorts. So now they are going to be liquidated so to speak. Note how the wave dipped ever so quickly below the lower rail in a throw under....
The red model is correct price and wave shape wise but likely way too wide in terms of time. This stock seems to move very quickly so we could see this double by the end of the year.
Zooming in, wave blue 1 up is done or nearly so (probably nearly so). DO NOT chase. WAIT for the a-b-c dip! 5' could be even higher than shown. Do not believe that the train is leaving the station without you. Wait for it to back up right even with the boarding platform as wave blue 2 retrace with an a-b-c and then jump in with a clear stop point (below the low of wave 2 you stop out).
Now take a second to do the math here. If my model is correct then it will go from $32 to $45 in three to four trading days after blue 2 is done. That's almost 50%. These kinds of opportunities are rare.
Remember, while the odds will be very high that blue 3 plays out after blue 2 is done, always use EW- defined stops.
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