RE:Thoughts on todays movementoneeno wrote:
Anybody have thoughts about the activity today?
Not positive thoughts, unfortunately.
So long as Pt remains below $1000, I don't see much of a catalyst for new investors to come in. Volume remains low, so PTM drifts lower with even small sales.
I had been optimistic about the potential for a Waterberg PFS to create new excitement and boost SP. I'm become less optimist with each week that PGMs remain in a bear territory. Too many small investors are getting impatient. Any positive news related price surge may be stunted and short lived, as folks looking to get out before the next equity raise race for the door, and new shorts jump in. Unless PGM prices begin to rebound soon (which they might), I would anticipate further downward spiral. The lower the share price, the greater the dilution. At some point, this brings in more shorts … maybe, it already has.
Sorry for the gloomy outlook. September did show record high auto sale, and the labor situation in SA has not been completely resolved yet. So, it is possible for the PGM bear market to turn around in short order. I continue to hold based on that possibility. Though, I'm not really comfortable holding any investment which is contingent on "hope" for something that neither I nor the company has control over. This is really more of a gamble, than an investment.