Reading all the posts of late....so much for my Lenten pledge, these are interesting times....which is an old Chinese curse as I understand it. "May you live in intesting times". 

We got a border collie cross puppy yesterday, crossed with an aussie sheppherd.  So if Lent couldn't stop me from posting Candy will limit the amount.

There is logic in those whose opinion has changed to the bearish side now posting their rationale....No matter how convicted a person is about a belief its still theraputic to proclaim it and seek acknowelgement from others.  Its part of what brings Christians into community. 

Put another way its like when someone buys a new car, say a Dodge Caravan to use a personal example, its natural to start noticing all the other Dodge Caravans on the road....psycholically we're looking to reassure ourselves that our opinion or choice is or was the right one.  "Another Caravan....I picked a popular vehicle".  Just yesterday while walking wonder pup we met neighbours who have a border collie themselves, they were thrilled with our choice obviously....it affirms their own.

I remain optimistic here....maybe I'm right, maybe I'm wong, only time will tell.  A big part of my rationale is that I don't perceive capitulation as having taken place, despite some obvious fundamental reasons why it should have. 

Its possible that others have a differing definition/opinion about what represents capitulation of course, so I'll explain my take on it.  For me capitualtion would mean several days (at least 3 or 4) where trading volumes were in the range of 5 to 10% of the oustanding share count....so for Resverlogix that would mean 10 to 20 million odd trading per day for a few days. 

IMO there has certainly been cause for capitualtion...BETonMACE failure being the first and most obvious, but also the company's incredibly weak balance sheet, and now of course the whole Covid-19 scare that is sending shockwaves across global markets.  So much of the fundamental picture is black....and yet we haven't seen what I consider to be capitulation.  

That's just my take though, and of course it could be wrong.  Be safe and well everyone.