It’ll require diligent attention to reboard this vehicle, a fact that I’ve illustrated with the very subtle (but picture-perfect) camo pattern shown in the chart. Our next such opportunity would necessarily be less subtle, since it would entail a b-c pullback from above the obvious peak (#3) at 23.96. Still, because we can’t get hurt much trying, I’ll suggest boarding whatever uptrending abc pattern unfolds that includes a marginal upside breach of external peak #3 and a b-c pullback. _______ UPDATE (10:46 a.m.): In the chat room, several subscribers have reported buying the stock using bids based on the 22.74 target flagged here about two weeks ago. Accordingly, I am establishing a 400-share tracking position @ 22.80 for your further guidance. I’ve also put out a bulletin recommending the purchase of August 23.63 calls. Use a 1.80 bid with 0.05 discretion. This means you can pay up to 1.85 for them. Please note that they are illiquid and only a dozen have trade so far this morning. The market makers are quoting a 10-cent spread and the calls are not likely to trade them on the bid, so you may have to pay up 0.05 to get some. For now, because the 22.74 target was so clear, I am suggesting no stop-loss on either the stock or the options.
