I think the time to load up was when it was in the 2's, 3's. Those who did not buy then probably will not get a second chance. I don't think it will go below $4 anymore. I think those who wanted to sell have already sold. However, if it does go below $4 I will be loading up again. I still think it is a real good buy below $8.
I have no doubt the market is ready to give something back this week. However, from a purely technical perspective it appears that TQNT is ready to go up. It has closed above its 50-day EMA for three days now; on ballanced volume is way way up over the past week and the MACD is trending up (which bothe tell me that the institutions are making their bets). My guess is that if the market does correct, TQNT will hold above the 50 day. If it falls below 4.50, however, all bets are off. As for me, I plan to go long once I see how the market plays itself out this week.
Don't forget institutional end of year is this week and elections the following week. Those two events will definately cause some profit taking. However, once those events are out of the way I think we see the traditional November/December rally.
My guess is TQNT drops back to mid 3's but no less and ends the year in the mid 5's. Thats where I am placing my bets and trades anyway.