Yes, Peppa classic ASN I couldn't put it better myself. How utterly embarrassing. I know the market was down today, and I know we had a stellar run-up yesterday, but we had a very encouraging update today, about our new Gold interest no less. Yet we can see clearly that ASN is still being viewed and treated like a nothing stock plaything, and worse still too many are allowing it to happen. No one can buy what you're not selling. I didn't sell yesterday, and with such amazing volume why would anyone have sold based on the fundamentals here.? Let alone today after what was announced. Now to be fair I can see how it may have been tempting to sell yesterday at about 3.1, 3.2 cents with all that green for those who bought in at like 2 cents, but c'mon 2.5 cents today lol like seriously.?
This is where TA and FA need to be matched up well and the importance of having some understanding of both. As I stated earlier today, again thank you to Beisha for his updated chart, I agree that technically ASN was headed into overbought territory yesterday and the chart indicated as such. This is especially why I asked if we might have an updated chart to verify. However, that chart was most relevant with the absence of any positive news, and as we know we received positive news to do with our Gold interests today. Thus, FA took over the TA at least to a point and 'should' have at the minimum supported the SP even with the ASX being down today.
Which, I guess what I am trying to say is TA is a great tool in the scheme of things, that is until it is given far too much credence and FA is thrown out the window. TA is essentially enough people believing something and it coming true due to consensus which makes total sense until facts remove opinion. Something I do believe the world is fast losing a grip on. Opinions outweighing tangible facts.
That being said, congratulations to all the buyers today, you recognised the discount. And might I add, I hope at least that it was an FA buy and not so much a TA buy.
To the sellers I really hope that this doesn't mean you bought high yesterday and sold lower today. To all sellers especially today, I might encourage a more measured approach to understanding the relationship between FA and TA moving forward.
Ultimately, in any deal I do, and any business I am involved in, I have one mantra. Everyone in the deal must have the opportunity to win. I share all of the above with that in mind. And I guess with that my rant/steam blowoff is done.
Beware when TA still plays out, even after the FA is reinforced. Big signs of being played. Don't get played.
As always, take care everyone, let's win together.
TOWB
P.S. Beisha I'm certain that I'm not the only one, in being very interested in what today's massacre even in light of the good news, had on the charts. Thank you very much in advance.
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