Anytime you have 3 vowels in a row you know there is trouble ahead. They could be Russian even though they use a different alphabet , or Irish or even Dutch and drunk. More over if you are in the 2by4 and paper business there must be more trouble. “That having been said” as the saying goes, never mind the incorrectness of the grammar and the pretty boring cliche’ the stock has had an amazing uptrend, before almost meeting its maker. Here is the chart.
So where do we go from here? Of course I have absolutely no idea, but that I have in common with every other jackass that pretends he/she knows. All I have is common sense and EW,using that I would exit any long position at around $23, a 4th wave and an area where the rise from the low, perhaps an a-b-c reaches the point where c= a, a very common event. Also we are reaching a 50% retracement. Using a more detailed chart we would come to the same conclusion.
This thing scares the hell out of me.. Again the top is at around $23 if you can bear to ride it all the way. Is it 5 up or an A-B- C? I have no idea, that is the beauty of EW. Just as religion it keeps you guessing, there are no certainties, just probabilities, which is why the most devout atheist is sometimes seen praying. We will go back to the tried and true approach to investing, that is buy low – sell high and, when in doubt , get out. Both suggest we should exit the scene very soon.