This RED chart is a loose ' Lassonde ' equivalent - the circles...

This RED chart is a loose ' Lassonde ' equivalent - the circles show T.P. (turning points) that traders acted on .... most underestimated the effects of COVID, which hit RED at a most inopportune time - the rush to get the BFS complete and KOTH commenced ran into the brick wall of bank finance, which resulted in the much rued hedging .... a further r sting in the tail of COVID resulted in the last CR .... the final nadir in the RED's Lassonde Curve.
So, here we are with RED's ship in finally great condition, with a strong commodity price wind powering our sails, but there are some dark clouds ahead, and the weather forecast is varied from a 'mild storm' to a "perfect storm" that will wreck most who have not reached safe harbour .... those who do will live to fish another day.
RED has arrived as an institutional grade stock and now can weather most storms except a protracted market meltdown and a poor POG/AISC situation.
M&A will eventually occur in either a very bullish market or a very bearish market .... obviously at different price points.
I'm nervously awaiting the half yearly (which should be positive) and the GDXJ .... this time next year could look very ugly.
One factor that may mitigate things is that its a presidential election year in the IOUSA, and Bidenomics will go to whatever extreme it can to stop things falling apart on their watch - expect lots of stimulus .... which will be just put on their tab ... Japananomics on steroids.