Yes TON now is in a Consolidation Phase. The Day traders are making calls on will today do 10%+ in the morning/lunch/ afternoon session/ They are "generating" FOMO, bottom/top picking/ parading their ego, very hyped up be Day Traders, Manic.
It must be very confusing to "normal" retail investors. They've read about Traders. Seen Leonardo Wolfing Wall St and must wonder if these 'posters' are for 'real'.
Take yesterday for example. I make a TA observation that 40/42 is a heavy Resistance Zone.
What reply do I get? Resistance Zones are made for BREAKING and the 'implication' that it was for Breaking NOW, Today.
Now that's 'debatable' in TA because TA theory 'works' on indications and Resistance Breaks usually are AFTER a number of 'challenges'. As is common in TA the "mystical" number 3 Three is often 'quoted'
Third Hit Resistance CAN break it. Note Can not Will.
There's always a lot of arguing, flaming and baiting between firstly FAers and TAers. This extends into Long Term vs Short Term and Short Term breaks into Day. EOD, Week,Month maybe Qtr.
Problem is for the FAers is because the Explorer/Speccie is earning NO Income, most all of the FA 'tools" can not be applied and they, the manic FAer are 'reduced' to making SP predictions of from $1 next week
to $10 next year [maybe 18mths]
Then you get the Day Traders 'absorbing' this FA as that 'could be so', What a Target $1 next week, and thus it's started. 10 posts an hour, one line, 3 words, often incl lol. For God's sake they start posting replying to themselves!!
I particular "like" how they can postulate all this TA but can't produce a Chart, nor actually string together this indicator with another together with TA theory to set out a Parameter/ Margin for Error/ Risk Reward Ratio. All they can babble and waffle is It's going to 55cents!!
My 'audience" is to true LongTerm Holders for example The Wolves. Also people doing DIY Super who intend to hold for years. People 'affected' by Capital Gains Tax committed to holding for a year or more.
I might add that the CGT is very handicapping to those who have to pay it. The employed High Fliers etc of 30/40years old say. See self funded retirees, those operating out of Super Funds have 'concessions'. Institutions aren't too concerned by CGT. True Designated TRADERS don't pat CGT because all their shares are designated Trading Stock not Investments.
Anyhow also in my "audience' I imagine New Buyers in TON who came in the 70/40 spike pre Easter.
They must be pretty shell shocked by the Reversal.
Now I am NOT posting as a DownRamping TON hater. I am not trying to Shake you Out so I can buy your shares. Neither am I wanting to Ramp you Up so I can SELL my shares to you.
I post Commentary on ShareMarket Dynamics. I consider it Independent Commentary with yes a Contra Slant/ Lot of Why Not? or rather Maybe Not? Parameters Upside Downside.
I'm not a HatER but HatED.
because I do glass half empty. I wear dark wrap not rose coloured glasses.
I just ain't no Pollyanna, rah rah so that's why the likes of ozbear et al. the Team Triton PR brigade
call the Ignore on me.
Anyhow off to get some Motivational Music going/
Hurricane Carter for the tune, wailing strings or is it organ ?
The One the Authorities came to Blame!!
(20min delay)