Affinity Gold Corp (AFYG)

[FLAPPO99]

The recent volume and especially today reminds me of what I call The Munger Muddle. When we used to play bridge Charlie would describe a condition where a penny stock just can't grab a trade. It comes when there are a small number of shareholders comprising the float who just can't come to terms with reality so they just freeze in place and won't sell, convinced to just ride it to the bottom. They do know enough in their heart of hearts not to buy more.

Bidders on the other hand, lose conviction because there is no liquidity and they fear not being able to get out if they want to, and there you have it, The Munger Muddle.