Chart, page-50

W3Hunter, because wave3 is invalidated, Ive been looking at an alternative wave count that you may have considered too. It's not text book, because Wave 2 barely touches 50% retracement and Wave 4 corrects too substantially for my liking. But if you take the rules in a slightly more lax fashion for a penny stock, there's a possibility that we have completed Wave 1, and are now likely in an ABC correction down to 3c.

If this theory holds (and it may definitely  have flaws), we are in for some short term pain before wave 3 commences (would be a substantially long wave). Happy to hear your thoughts...