Spot, making its turn -- at a higher low! Up today to finish wave 3, likely pretty quick as it may reverse and do wave 4 dn to completion as well. Anyway 7.00issh, retrace to 6.65 area. a couple of up days to 7.60, Thursday retrace to 7.30 area then wave 5 finish Friday to abt 7.91. Week of 7/22 -- 7/26 will likely be all retrace . . . Gap fill at 6.33 may be the target. Say goodbye to the 5s
RG and whoever is holding core positions, if 7.91 proves to be the first wave up number, you might want to sell the Aug 8.00 call option. In a week or so if price is 6.33 one might buy back the call at least .70 or .80 cents cheaper for every share optioned. A way to protect the core and create cash flow. And gives ready cash to buy more core holdings at the low of the cycle. Add to this idea, corrections , whatever. Risk is you get called out and change your tax situation. But core stock can quickly be bought back, likely lower.