Using 147,600,000 shares as the total, we can see that in recent...

Using 147,600,000 shares as the total, we can see that in recent days, just over a tenth of a percent of TGA shares have traded each trading day. Over the last year (253 trading days) 53.4% the total was traded at an average of .211% per trading day – loosely, twice the recent average. Also, no news directly connected with TGA has become available recently, and precious little general news has emerged that would indirectly impact TGA's business. The SP bouncing about is just noise that both astute investors and traders can put to advantage. I bought 10,000 at $2.05 about ten days ago, and saw the SP quickly rise to close at $2.11, and then retreat to close at $2.01 on 17/03/2014, to rise again to circa $2.11 today.

- Date - - - Close - - Volume - % of Total
18/03/14 - - $2.06 - - 168530 - - 0.11%
17/03/14 - - $2.01 - - 200770 - - 0.14%
14/03/14 - - $2.07 - - 138794 - - 0.09%
13/03/14 - - $2.10 - - 180763 - - 0.12%
12/03/14 - - $2.11 - - 181733 - - 0.12%
11/03/14 - - $2.10 - - 128281 - - 0.09%
10/03/14 - - $2.09 - - 227034 - - 0.15%
07/03/14 - - $2.08 - - 101575 - - 0.07%
06/03/14 - - $2.06 - - 311038 - - 0.21%
05/03/14 - - $2.08 - - 185145 - - 0.13%
04/03/14 - - $2.10 - - 135201 - - 0.09%
03/03/14 - - $2.10 - - 166454 - - 0.11%
28/02/14 - - $2.08 - - 239796 - - 0.16%
27/02/14 - - $2.11 - - 172509 - - 0.12%
26/02/14 - - $2.11 - - 221778 - - 0.15%
25/02/14 - - $2.13 - - 186058 - - 0.13%

Except for the 2010 dated favourable prognosis of the NCML acquisition's impact on EPS, TGA tends to perform according to management's predictions (using the word loosely). We can reasonably presume that the half year ending 30/03/2014 will be better than the first half year, and that FY2015 will be better than FY2014.

As for negatives, I have not wrapped my head around the impact of the low-retail-margin smartphone-cum-tablet business. I can imagine it to be a winner, and I can understand why management would be coy about it if it were (a wise fisherman does not blab to all where he hauls in good catches).

On the topic of wise fishermen, why do I often comment on TGA? I have had 500,000 TGA shares for a long time as an income play, so except for minor market forays, I neither buy nor sell TGA. If I were in accumulation mode, I would be tempted to be silent. Right now I hold 529,500 TGA shares - the 29,500 being kept in the playpen, and they will be the first to be sold when the SP approximates my valuation of them.