Hey ASX360, I will offer what I have done, but I would put a massive caveat saying that I am by no means a successful trader, but it might help to give another perspective. I bought early in the year and sold out on the initial price jump. Intoxicated with the win, I bought more in the mid 2's a few months back and have watched it fall since. Based on the recent announcement, I have sold, partly to take the tax loss but also I think there are some more risks to the downside. They wouldn't have got any uptake on the spp, so that announcement will have to come out and now Patto's are 20%+ underwater, there will be substanital volume on any uptick. So I thought it unlikely that there will any announcement before next week, at the rate they are drilling, so figured I could sell now, take the tax loss and buy back next week for a few ticks lower. The risk is that they hit the coal seems and I miss the spike, but It just seemed there was ongoing downward pressure, and if they don't hit, then they really are in toruble, as they don't have a lot of headroom for the second drill. Please take the above with a grain of salt, as I'm now not a holder so I am naturally going to be biased to the sp falling. Where are previously I was biased to the sp rising when I was a holder. Good luck and hope to still make some money from TNP, but probably not till next week.
TNP Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
