October is over and while it's too soon to call an end to this correction, the US market has managed to string together three days of good gains. Hopefully the market rallies from here as it traditionally does after the Sep/Oct correction.
S&P500
Smaller companies look much more oversold. Russell 2000 1 year chart below. Maybe ready to rebound further?
Russel 2000 5 year. Support line at around its pre-covid highs.
MNB has put in a series of major lows over the past 5 years with each of those setting its new low at a high level than the last major low. Importantly, the rallies that follow those major lows are very steep and strong. Each of those rallies leads to a much better than 100% gain within months. The market cap is only around 20-25% of its NPV based on the current TSP price, so a much better than 100% gain is easily achievable as production nears next year. I don't know if we are at that major low point right now - I think we are - but I'm waiting for that next big rally. Close of funding should be all the news we need to trigger it.
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