Back in Jan we predicted that this stock should soon lose at least $10 from its price of nearly $17 at the time (see previous blog). Here is the chart;

Wave Cs should always be sub-dividable into 5 separate wave, however some corrections are double or triple zig-zags and consequently you will not see the 4 waves. In any case we should make a new low below $7 or so before this is over. We could be in 4 of 3 of 3 or 3 might be just about over but then we would need a 4-5. Keep in mind that this thing traded above $40 in its heyday.

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This stock was challenged in the recent meltdown. It is not clear what would happen if we got another one. What is clear is that it is about to complete a wave 2 rebound. This could be incorrect if the stock were to continue up. Not likely! So if the next wave down starts it should be soon and target at least $10 minimum. The mutual fund business just is not what it used to be.