Tomorrow, on the open, this stock will probably sell at $46+. That is not bad since you could have bought it 10 days ago at $33, a gain of about 40%. Should you sell? If this makes you nervous and you do not work with stops, perhaps. At that level you will have done the bare minimum of an a-b-c bounce. If you are slightly more entrepreneurial , or greedy, you may want to stay around and see if this stock cannot reach the 38% retracement at around $54. Depending on the structure (5 up for a) you definitely want to get out there, and, perhaps, get back in at around $42, give or take.

This was one of the better calls (see also WPT and COS), right to the day. You could have picked it up for , say $33 the next Monday. We are about to finish the a of an a-b-c up corrective move. We would sell at around $44-$46 and take a 25/30% gain over a week or two and then await the b leg  (at $37?) and buy it again for the c leg. This has the potential to go quite a bit higher as the X wave progresses. If the entire correction was already complete (we do not think so) much higher levels are possible. We would , in any event, exit at the line if our expectations come about.

A little less than a year ago this stock looked like a sell. It had a nice 5 wave sequence, the RSI was already overbought and the stock had gone vertical. Not very good advice as the stock managed another $30 from there. However, on the positive side we are now almost $30 below that point. This is a momentum stock which operates exclusively on the assumption that there will always be a greater fool to take the stock off your hands in the future. This works fabulously un till it does not, here that point is at about $90 where you sold.

These people sell cars and trucks in the province of Alberta in the Calgary area. Low gas prices are good for car and especially truck sales, but not in this province. It has now become a barometer of the wellbeing of the economy there.

The drop . so far, appears to be an a-b-c (rather than 5 waves). That could of course be all there is, the entire correction, but we suspect it is only half of it. In that scenario oil should stabilize or even go up $10 or so per barrel and things will look up a little (relatively speaking). Then the process could start all over again as the second a-b-c forms to complete the “double zig-zag”.

This company runs a collection of auto dealerships, representing all the major brands including, ironically, GM. For two years or so the stock did nothing and then it took off to become a ten-bagger in just a little over two years. They are based in Alberta and , no doubt one day this stock will trade at $500 or more, but we would be inclined to take our chips off the table. The stock trades at  a 33x p/e, the RSI and MACD are at peak levels and lately the climb was as close to vertical as it gets. A sell.