ok gurus...was $3.11 the bottom, page-3

For what it's worth, I suspect that the prospect of index membership is going to keep TTS at these levels for the next three weeks (absent a broader market shock), followed by some share price appreciation in September. Index membership would trigger $110 million in buying of TTS from passive managers. . . together with an unknown amount of "follow on" buying from punters who play the share price appreciation that almost invariably accompanies index membership.

I think that index changes are announced on 3 Sept, effective 16 Sept,

I don't know how high she will go at this time, but 3.30 - 3.40 is not unlikely.

HOWEVER, well before the end of the year, share price decline will commence again. . .. . because the fundamentals say it has to.

FWIW - I didn't just post that Crikey piece a few weeks ago. . . i also wrote it