So  we did not get the triangle 4th wave (of 5). Instead it ended up being a very simple and equally clear a-b-c. Target was expected to be somewhere around >$39. Maybe $41 but we would not wait.

After almost six years of rising constantly, we prognosticated, a month ago, that this stock would fall. 4 days later it peaked marginally higher and then lost almost $4 or 11% in a week. Then as now we are not absolutely sure of the exact count. Judging by this detailed chart, which shows the 5th wave we think, it is possible that the entire rise is complete and we will have a large drop with this only the beginning (in blue).  Alternatively this 5th wave may not be complete and we are presently in a 4th of 5 and probable tracing out what will become a triangle (in grey). This latter possibility suggests a top in the vicinity of $39 or so. As decisiveness is, and bravery is not, a good character trait in the investment business we would sell here again if we had not already done so on Sept. 4

This night owl of convenience stores and gas station reported the other day and the results were good but nevertheless a little short on the top line. It has had an absolutely stellar stock performance over the last 5 to 6 years. Now that the stock is moving up in a vertical fashion, together with an RSI and MACD through the roof  we would put this beast to bed and look for financial nourishment elsewhere. The count? No idea.