The Pugs Thoughts..

Hi all

Have been reading the posts over the last few weeks with great interest (and some amusement & bewilderment)

Thought I would chime in with some thoughts form the PUG. Firstly, in the interest of full disclosure, I am Long at $0.385, so got in a little later than some here - Unfortunately : )

Again, I'm predominantly a short term TA trader but like to combine the bi polar nature of TA & FA from time to time when I like the story.

Some observations from a TA & FA perspective.

1. I wont be selling under $1.50 - Assuming I don't get stopped out!
2. Clearly the potential, current progress/success and appetite for graphite puts TON in the box seat
3. It's TA pattern is becoming very predictable, which is great.

If we look after the first real rerating in early June, it hit a high of $0.46 before retracing to a new low of $0.31 (33%) on the 9/06. Next announcement saw gap up, high of $0.48, new higher low of $0.36 (25%). The most recent announcement Monday saw an intraday high of $0.57 (breaking the previous high & holding)  before a close of $0.52.

As has been the case previously, today was a down day on lower volume, same as prior announcement. Only the rerating move had higher volume the second day (and lower close..)

Clearly we have broken out of the triangle formation and are in a strong and pronounced upward trend channel.

The key for me is now the next new higher low. A 25% retracement (equal to last time) would see $0.43, a break of this would be concerning. However given the current trends, I don't expect this level of retracement, whilst we may see further pressure tomorrow, I don't think we break $0.45.

I expect a + $0.50 close by weeks end and continuation of the broader uptrend to continue. Next set of good news will see further gap ups (who knows what level) but almost certainly a break and hold above $0.60 - $0.70 if good.

I really like this story and think TON has the goods to make it happen, the SP will follow in good time.

Don't see any reason technically, or from a FA perspective to be selling now IMO , Short term traders will play around the edges for shorter smaller gains and that's fine, all part of the rich tapestry of trading!

Good luck to all holders.