have kept lum on my watchlist as a lesson about stop losses .......

have kept lum on my watchlist as a lesson about stop losses .... but noticed today that the oppies have had 3million go through out of the blue .... perhaps rebalancing by existing holders, but with the company having a market cap of less than $3m its possibly worth keeping an eye on this one as a (perhaps modest) tunraround story.

Now the salas have left the building the new management team look like they have a decent sort of plan to at least make a profit. China is where lum should always have been doing big business and they now appear to have their ducks in a row. some heavy hitters on the board and one or two more contracts would be the signal for this to double.

oppies may be slightly expensive at .003, but when you consider a strike of .07 and the end of 2008 as the expiry, its perhaps a better punt than a couple of grand on the melbourne cup ..... I like that the Olympic Games will be held in the months before expiry -- now don't tell me that is a coincidence. I think management have plans to run hard .... as others have pointed out maket cap of just $23m is around .15. which would make oppies from this level a $100k return.

im not jumping in yet (i got badly burnt in the initial fall, although I traded it successfully around the .14 mark) but its perhaps not as dead a duck as some would have us believe.

i know there's a lot of bagging on the lum board, and i hesitate to put my head up, but the school project alone could secure their future if all goes according to management's new plan. a big if based on past performance.