@tobiasroy
when you have a 'c' elliot wave its an exhaustion of downward momentum - long bleed down and seemingly no strength in buying support
sometimes you even get a triple bottom - ie hitting about the same lowest price 3 times over a few weeks
the lowest I see it going technically is 1.31 or so... but I suspect the recent low is probably the low for the reasons ive already said
i suspect a degree of the deep bleed on SLR is that combination of high opex and too much cash
but those are really problems of a quarter or 2 not 12 month
these are the times to be getting very long - so long as you feel the next wave in gold producers is an upwave
but only you can decide that last one for yourself
the simpler way to say it is - higher the chart went prior, deeper the c wave will be. SLR want super high - indeed all ASX goldies did pretty much but even among that group SLR was a standout
this is the price paid for that
