This is what capitulation can look like.I am not calling a...

This is what capitulation can look like.

I am not calling a bottom, but I can see by volume and size of trades, the punters are jumping ship big time. It seems to always always look the same.

Of course I am not going to let this pass without buying. I will better know the wisdom of my buying once the 1/2 yearly results are out. Unless I am seriously mistaken, the funds managment business is now value at around $260m based on a sustainable annual net profit of around $40m - $50.

I like owning a business on a forward PE of 5 to 6, with no debt.

I like some of the assets in the Balance Sheet including lots of cash.

Link Admin floundered under $1.50 for months only to be snapped up for $2.25 in a heartbeat. It was an easy play.

I suspect (maybe some would call it blind hope) that many are doing the numbers on PTM and some some of corporate action is imminent, over the next 3 - 6 months at or around $1.50 plus.

Until this plays out, sometimes you gotta just absorb the heat - or get out of the kitchen. This is not a place for the faint hearted or those that cannot afford to lose more capital.

Below $1.10, I have shifted my sentiment to buy and acted accordingly.

GLTASH