In keeping with my theory that thumbs up equate to perfect negative correlations they dont get much better than King Louie. Down another 8% today. Yes yes yes, you're all long term holders. Cool yer heels
I dont know if this has been mentioned much amongst the fire and spittle on TON threads but the simplest explanation for this retrace is that, even here it has a 100 mil mkt cap. I know you can all rattle off a rationalisation for higher market caps but if you know anything about australian markets you know they trend to the conservative.
It requires a certain type of market to maintain big capped juniours and that disappeared when the Dow turned last week. If TONs discoveries happened 3 months ago I doubt it would have cracked 60 mil. Keep that in perspective when you're lying to the missus about how much loss you're carrying on this now.
30 double bottom ? Maybe, but I wont bet on it. I'll punt on the next run which will be a week before the JORC. After Jorc it will retrace again. Make the most of that if you can.
TON Price at posting:
32.0¢ Sentiment: None Disclosure: Not Held
