Actually, pjw2, I had a $1.7 as a possible target too, originally $3, then $2.3 and then added the $1.7 with the $2.3. It really is hard chartwise to say, but the chart on this one is very good guidance I think. It indicated to me that this thing might hold at $3 and if it didn´t it would hit $2.5 or $1.7, and either would hold a copy type pattern on the last big fall.
But then I looked at the balance sheet, and the business model again, and thought $2.12 was a gift so I bought, figuring downside was to $1.7 and the upside was into the teens.
That copy pattern BTW was during the early part of the last recession, and it hit around $5 to $7 for lows, which was another reason I thought the low $2s was a gift.
So far it has been following a copy pattern perfectly. The upside on the chart, was heading to $35 pretty quickly.
This time around who knows, but I could see how, after a binge on heloc spending, consumers might ease into any recovery while paying off big loans along the way, and that bargains will be the new mantra, and luxury for less could have a big place in it.