TLS chart, page-12

Clearly we have fallen out of the triangle I put up by breaking $2.71 this morning.

Unfortunately, the bear flag scenario I put up recently looks to be playing out.

I kind of suspected this bear flag pattern in the days leading up to the 20 June announcement, as it failed to hold the $2.94 area and had no interest in getting to $3.00. It was a buy the rumor and sell the news situation. Pumped then dumped.

Bear flag can have a target as shown in the last image. It looks to be around $2.40 area. It wont necessarily happen and it wont happen rapidly (gradual grind down with small bounces along the way), but now that we have broken all supports, be mindful of it is what I am saying.

This management is not building TLS but gradually destroying it. Penn is not qualified to run this company. Instead of delivering certainty the other day, he delivered more uncertainty. And the market is now reacting to this extra uncertainty that he has created. By the actions he has announced, it seems he is making the situation look worse than it is. That is how the market is taking it.

He needs to get out immediately from running this company before he does more damage. But unfortunately, he will be here for a few years to come.