The window does not lie. First stop is 6.50 then 5.75.

There are two identifiable reasons. There are 30,000 options that mature in 7 days and the options writers are going to make sure to screw the buyers out of their premiums Therefore 6.50 is very likely.

In his latest blog Sinclair has all but admitted that TRE is on the ropes because it cannot show a profit.

" The Penguin represents earnings. The Bear is of course the Bear of Junior Gold shares that have production now, or in the very near future."

Basically, he is saying that without earnings there will be no price rise. Let's see what the charts say at 6.50. Who knows, we might get lucky and go down to 5.75 or we might not and it will keep going down. No earnings. No price rise. That is what the market has been saying for the last 4 years.