To be absolutely clear I'll reiterate, I don't want anyone to act on anything I say. If you think there's any substance in what I say, DYOR and act on what you determine there. If you think I'm wrong, please tell me so and I might learn something.
Bulls and bears can both make and lose money. I'm glad I sold when I did and wish I'd sold sooner, and the reason I didn't is that I was too bullish; being bullish lost me money, although I'm fortunate to have bought into TNT at a low price, traded well and made money overall on the company, I just could have made a lot more if I ran earlier.
Looking at the chart and depth, I wouldn't want to be holding TNT at the moment (actually, I still have some and I should have sold 100% rather than just 85%). If 20c fails it's going to be a clear breakdown. The bid is currently at 21c.
I'm certainly not trying to scare anyone into selling. I've always maintained that I like management and the fundamentals, and I think on company value TNT is currently very cheap. I expect that in 12 months the share price will be above where it is now, it's just that I expect in a month or two (or a day or two, perhaps even an hour or two) it will be lower.
In the post I'm responding to there is the assertion that 21.5c long term resistance will hold. Moments after it was made the bid was at 21c and while I posted this reply it traded at that price. As I typed that sentence, almost all the buyers at 21c have been taken out. The previous paragraph seems to be coming true before I have the chance to hit post.
TNT Price at posting:
21.3¢ Sentiment: None Disclosure: Held
