Best way to look at this now is to keep it simple and focus on...

Best way to look at this now is to keep it simple and focus on the last leg up from early January $2.98 low to the $3.33 high and just look at the levels of support in this segment.

They are $3.12, $3.07 and of course the psychologically significant and whole number and decades long important mark of $3.00.

The last image (hourly chart) shows that the levels of $3.12 and $3.07 very closely match with Fib levels 0.618 and 0.786 respectively.

We are at the vicinity of $3.12.

If very bullish (as TLS appeared to be since results and Penn's positive spin) then $3.13 we already got this morning will be it. A positive stock will not allow much deterioration ex div at all. Only 2-3 subdued days then signs of life return and up she will resume. I have seen TLS do this in the past. Take August 2012 as an example.

If this ex div period coincides with a little new negative TLS related news, then $3.07.

If this period happens to coincide with a world markets correction and some negative TLS news, then $3.07 and $3.00 will be threatened.

In a severe scenario, the shape I was talking about some weeks back can take hold, where $2.82 is possible.

Note the gap left this morning up to $3.20. This might get filled in the very short term first. That is, $3.13 then to $3.20, then back down.

Been busy trading NCM past few weeks. I didn't have time for TLS and a little busy now to fully detail my thoughts here on TLS. But what I have put here now is the main thought I have.

I am not a holder at the moment. Buy I am interested and could soon go in heavy.