managements stupidity vs usa ng prices, page-8

doomsday - the sky is falling Sushi, I agree with you that perhaps they could be a little more forthcoming re company activities.

However, given a choice of a company that announces too little vs a company who announces every other day, well the former is much better when it comes to share price performance.

Sure, I too think PSA has a bit of a credibility gap to cross, but I also believe that because the free float of shares is not that great, it is the subject of a great deal of price manipulation, esp to the downside when buyers are looking a little thin. When I am buying, I always withdraw further away from the sellers and many times someone comes to the market and fills me in simply to bring the price lower to shake out the 'weak zebras'.

Also, I think financially there is a market perception with PSA of 'well we've been here before' with regards to building up a huge wodge of money and then blowing it all. They are certainly spending like buggery at present getting Vermillion under way, but I think people would like to see the cash building up again, and I don't think we will see much evidence of that until Q4 qtrtly report comes in. 2005 should be a very strong cashflow year for them.

Sushi, I do think you are a little too doomsday on it, after all most of the medium term PSA players have done exceptionally well. Chill a little.