TIMPB are illiquid so not a great short term correlation with the heads.
IMHO yesterday was a short covering ralley following the initial positive response (or another short cover?) to the GTP restructure announcement. Didn't give it enough thought at the time but certainly looks like a golden opportunity to short gone begging. Today GTP looks dreadful and rightly so! TIM might try the same dodgy dealings to strengthen balance sheet and cash flows but I don't think it will save them from fundmantal over-indebtedness. The dilution and bad feeling of whatever TIM do to stay solvent will be highly likely to see the heads dive under 50c late next year when debt starts being due for roll-over.
Hold on tight ot your shorts if still long TIMPB Watford.
goodluck
TIM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
