big chomp, page-4

Roo Roo,

The buyer is sophisticated and knows a thing or three about shaking out the uninformed. The usual techniques include capping the price in a limited market by stacking the sell side (and hoping another smartie doesn't snatch your stock), withdrawing periodically so as not to appear too keen and never buying too fast to alert the uninformed. In the case of TZL, most stock is very tightly held. There is some options-related selling by those who are selling some of their stock so as to afford the take up of options - perhaps they operate close to the wind or else have some self-imposed limit on holding an individual stock as a matter of operating policy (as I do) in addition to the odd small holder (<100,000 shares and many with <20,000 shares) who bought in without doing their homework and thus don't know what the company is up to. Many (most?) of these shareholders don't read this or any other board and so are the first to be suckered out. Others exit with a pre-set profit and will reenter at a higher price if they think the market is going to increase further. I find this sort of trading in this of stock tedious and reject it as a policy but do follow that procedure in many other stocks with a variable market outlook like KCN and PDN. For TZL the prize awaits those with a longer term view (>12 months holding for CGT discount) knowing what will happen in the medium term or at least what I strongly believe will happen. I could have taken 60% or more by now but that is small beer. Since I usually have 10 irons in the fire I don't get carried away with small movements. The real movement hasn't started but more of the smart money looks to be in place. By the time of the (delayed) announcement there will be little stock available and the price will fly. To the haves more will accrue. The have nots will be left with relatively little but they appear to prefer it that way!