want to be hopefull, but i am selling

Good morning all,

This market has gone insane, red across the board and even defensives getting belted!!!

TLS used to be a solid defensive, reliable cash flow and dominant predictable market force.

Yesterdays report broke me. It is true, KPMG have basically produced a report for the government to use and squeeze TLS for every last penny. The NBN can proceed without TLS, would be better with TLS, but the government can now dictate terms as to what price they want to pay.

TLS can not compete with the NBN, not at that price, the NBN will steal customers, at the prices quoted yesterday. Just remember, who is going to want a long term contract with TLS, when the NBN can deliver for 35 per month????

I am selling all my TLS, lost far too much money on this dwindling stock. Today, you can buy QBE for under $20, banks for a steep discount, CSL, SHL for very cheap. I think these will gain much more than TLS in the long run.

I am out, but I guess I am hoping, somewhere deep inside, that I could hang on, but the stress is too much. Has anyone got ideas. ps I have a small margin loan also!!!!