Ton double bottom, page-38

Obviously most of the LT traders have day jobs and post at night, .

Circumstances have added volatility to TON's price. These are:

- rumours of a SYR takeover
- graphite becoming the new wonder product
- TON located next to SYR's already discovered resource
- TON's resource not fully mapped
- uncertainty at the spec end of the market
- investors looking for the next wonder stock
- only 300 million shares on issue (of which 140 million are held by the Top 20)
- CR at 50c a share when for months TON's share price was below 12c

Recently all the factors worked in the positive direction and the share price zoomed to 90c. TON stretched the rubber band before it had the strength to do so and now it's bouncing back and forth.

The fact is TON doesn't even have a Inferred Resource yet. No new large institution is going to invest until some of the risk is removed. Three months ago they could have paid 12c a share. They are not going to pay 34c a share now. Until TON reduces some of the risk, the small traders are going to play with TON like having a bet at the casino.

On average more than 10% of the loose shares are being traded very day. This is not healthy for the long term.
What's the good news? Well as TON heads to it's first JORC, more shares will be taken up by larger long term investors. TON has a MC over $120 million and yet a very small number of shares for a MC as big as it is at this stage.
While it is clear that a small number of shares is attractive to traders who want volatility, it also means that it won't take very long for some new large investment to introduce stability very quickly.

LT investors are watching 1,000's of dollars being swiped from their investment every day. TON is one of those once in a life time investments. The hardest, but best thing LT investors can do is not to look at the share price until the first JORC is released.

For those who are worried where the bottom may be, just take a look at the little price graph on the right.
See where the price first levelled out after the first jump. Around the 35c to 40c mark. After a 30% loss that's all the TA I need right now.