Technically, I see breakdowns everywhere - even REMX, the ree ETF, is making new lows. Yesterday, I sold my MCP (which I owned because of an options assignment) and lightened up on REE. Just before the close, I sold 40 & 42.50 October puts on MCP - the premiums would in theory cover my losses if the puts do not get assigned (we'll see how that goes).

I think the rees will have a nice run later in the year, the important question is - from what level? You may be right about the timing, but I'd rather wait for some technical evidence.