TRX is now trading center channel of the falling wedge which I have drawn Andrew's Pitchfork on top of. It must now make a decision: kiss the upper rail and then break down in 5 more wave (the red path might seem small in dollar terms but would be huge in percentage terms) or be done with the southing here and now and break the upper rail.
I am still holding my small number of TRX shares bought earlier and if this breaks that lower rail to 20 cents or lower then I will quadruple down on my share count. I still view this as a nonexpiring call on juniors. Tanzanian just closed $10mn in financing in December. Maybe it will BK but I don't have a lot of dollars on the table here. It would be different if it tried to get financing and was denied access to the capital markets.
Gold is set to rebound soon and when it does TRX will skyrocket. This is probably akin to buying sunpower in the $3 range. I certainly would not bet the farm on this but when it moves 6 cents and gains 20% like it did today then imagine what would happen when gold finally begins heading back up to $1400.
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