In fact my current model suggests that we are getting to the last 5-7 trading days leading to a strong bottom for LL that will see the shares at least triple from the bottom up into the $34 range as a first target. It will not surprise me to find other commodities (LL is essentially a commodity retail, yeah?) bottom in the same time frame.
Wave red 5 which should begin very soon would be the same length as red 1 that happened late June-early July if the shares hit $10. What would be nice to see would be one more big fast move down, preferably on negative sounding news followed by a rapid reversal that traps a lot of new shorts in the shares. That would be a buy signal big time.
Not shown below, but red 1 could also have been the low of mid June and in that case the bottom would likely be an inclining double bottom, or inverted owl ears not making it all the way down to $10. This IMO would be even more bullish.
When these shares find a bottom there are a LOT of built in buyers. We call them short sellers.
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