Tosser alright. Smart way to sell 1.8m shares ... not. The thing is he sold 60k odd, and the seller who popped up at 8.7 for 200k got gobbled pretty quickly.
I am thinking this is a capping technique. ICS in the early stages of its re-rate exhibited similar price behaviour, large sell orders appearing in depth and sitting there for days before eventually getting eaten.
TCN is a frustrating old thing. I still get the sense that there is an unnatural overhang, which always makes me nervous. I think people are waiting for the full year guidance before piling in. We just need a conviction buy from at least one of the multitude of small cap funds that are around now, what are they waiting for?
TCN represents my single largest holding having loaded sub 7c. So its not a very nice valentines gift when some large "tosser" engineers a 7tic collapse, in something that has potentially smashed its full year forecast by 100%.
I think its almost time to get an updated top 20 list, and see who the culprit is. Anyone?
TCN Price at posting:
8.7¢ Sentiment: Buy Disclosure: Held
