TAS/EDE relative values, page-875

It is both a phycological and a physical one. It is not the gap but the relative values. A 1c gap when the SP is 6c is a lot different to a 1c gap at 20c. It is tied up also with reaction times to a change. A change in the value of TAS usually lags a change in the SP of EDE. The phycological influence influences the physical measurement. Also of influence is the status and value of the other TAS interests. If that was not the case and TAS was only a holding company for EDE shares then it may be a different scenario.

Even when there was no gap generally there was a daily variation on either side of par. Even my sentiment varies. I have a hold on TAS and none on EDE. My reasoning is that while there is doubt regarding EDE then there may be a value with the other assets of TAS. The second thing I do each day is to check the relative values. (The first is to read the local paper advertisements and comic strips).