have we reached the bottom yet

Howdy Folks !

Firstly, I thought that a change of thread title might be in order here !

Worst stock ever???? ... not too inspiring really ... is it ?

Unfortunately for those still holding , the events since I started following this stock have pretty well unfolded as I predicted { almost text book fashion }. Down to 7c ?
However , I have also been following the progress of numerous other companies undergoing capital raisings and have found the results unfolding in similar fashion.

MY PLAN is always { as I have stated in previous posts } Sell first and ask questions later ! Which is excactly what I have just recently had to do with 2 of my other holdings. Nursing a large loss is far more painful than missing out on some profit I think.

SO

Have we reached the bottom ?

Certainly , the sentiment cant get any worse than it already is, surely ?

An interesting question I have is...
Has the price action {ie chart} preceeded the fundamentals of TMR and valued it correctly ?
or
Has the market overreacted and priced it way too low and hence the price will eventually go higher to catch up to the fundamentals ?

Some input here from someone would be useful !

I have done NO F.A. on this other than what has been posted here on hotcopper. {intentionally}

Picking a bottom in a strong downtrend is not a recommended practice and I have learned that the hard way.
Trends tend to persist far longer than most ppl expect so the logic here would be to wait for the trend to change !

But what the hec, let's have a go anyway !

MY feeling is that most ppl who felt cheated by mgmt, had magin calls, stop losses triggered {or is that stop looses} or just paniced, have most likely already sold out,{commonly known as the final blow off} hence opening the door for a price reversal.

The chart is also looking interesting in that it could be interpreted as the excact half way point of a reverse Head and Shoulders pattern with a possible neckline forming at 14.5c.

DOES ANYONE see that ?

A bit of a GAMBLE I know , but could be worth a PUNT .... 8c to 14.5c = 80%

MY STOP LOSS would be set at....... well I wont divulge that in case someone tries to stop me out on purpose.
But it will be tight and it will be acted on if breached !

STAY TUNED for the next exciting episode of How to lose your money methodically.... Coming Soon ! Right here on HC

Good Luck to all !
The chart also