gap filled at $1.115, page-34

Vendor
This concept about the market being something that is an entity is ridiculous . The market is a collective of individual decisions based on individual assumptions at any point in time. When one set of assumptions prevails over the others it drives the price in which a small part of the company trades at any given day. The market will move the price of a stock by a few % a day sometimes resulting in the underlying worth of a company changing by 10s of millions or hundres of millions within a few hrs . Surely this is not the market accurately repricing the value of a company with every trade.
The market is in my view often wrong , sometimes by a little , sometimes by a lot . I do think when it comes to a stock in a strong trend the differences between FA and TA come out .
I don't hold SLR now but whether the sellers of today are right and wrong will only be known in the future . The reality is one needs to make some assumptions and back them, if gold stays steady or increases its a bargain , if it falls a little it's fair value and if it falls to low 1000s and stays there then it's expensive - the challenge is nobody knows and we are all guessing , as we do with charts