While this did pop up a little since the previous post before heading back down, it is still possible to see one more very quick 10% rally to the level of the prior 4th. That would be an expanded flat correction. In that case wave 2 of 3 would come to about $30.50 in 5 waves (recall that an expanded flat is 3-3-5) and then, dear readers (and the options guys are going to just love this one), 3 of 3 will arrive, probably with a huge gap down and certainly to a much lower low than the flash crash of late August.
Again, this will not be 3 down, it will be 3 of 3. the 4 of 3. Then 5 of 3. The 4. Then 5. And that will make up wave A at which time the shares will be a great trading buy to the long side only to then peter out and put in a devastating C wave. My long standing target for C is $8, could turn out to be less.
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