Pretty dark and depressing day no matter how you look at it - but I think there is merit in considering the following
1. Sector as a whole was down (as FH pointed out much more eloquently than I can ever hope to)
2. There was a massive range of buyers in the 70+ range - so I'm guessing a shed load of stop losses got triggered today, especially at the start of the day where I saw a 10% drop in almost within a few minutes.
3. I've only just finished looking through the report in detail, and I agree; I think it's painting a great ST and LT picture for TON.
4. The tweet last week spoke about a consistent amount of info being released - which makes me think the DD results will be with us any day.
While I don't have a crystal ball, I look at the above points and it paints a pretty clear picture to me - if one can weather today's storm, and be left standing, then the potential upside is great.
My pick is a rebound tomorrow - the entry point now is brilliant, and we have hovered around the mid 5's to 6 pretty much all afternoon - so there is a perception of great value at this price point.
I'm not buying any more at this point in time - and yes, it would have been great to sell at high 8's! But I, for one, am left standing after today, and I will remain standing.
I believe in the TA, and I believe that the risk of jumping out now (when I don't think the price will drop further), is far outweighed by the upshot potential of the DD results based on the huge scope of area released in the ANN today.
GLTA
TON Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held
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