pre-open after 30 day efs #2 results, page-61

"the 30 day flow is of concern"

Clearly it is to you and you have acted accordingly (not invested).

I think that we are now quite well aware of your opinion on it.

It would be nice if you would respect the right of us each to formulate our own opinions on the matter. It is our own money that we are investing - certainly, it is my own that I am.

This seems to be a case of deja vu. I really cannot be bothered to go back and look at the posts around the time of the release of the Tyler 30 day figures, but I hazily recall posts in a similar vein.

I have little doubt that EFS3 & EFS4 will be flowed to clean up and will be then choked down. Perhaps TXN should follow AUT/EKA and not release IP figures. There was a change of policy in 2010 because they were not considered to be meaningful. That is precisely what AUT said re Rancho Grande IP figures on 8 June 2010, for instance.

My opinion, based on Tyler, is that judgment should be deferred until there are, at the very least, 60 day figures for Teal.

As to speculation on the view of the market: it clearly can be no more than that. And unless the market makers are holding substantial long positions, there must be buyers for the shares sold by the sellers. So, the buyers have a different view from the sellers and some of the sellers might be selling down over-extended positions following the surprise full allocation against the SPP applications. The directors' selling of shares taken up on exercise of expiring options has been discussed to death and back again.