what is going onnnn??, page-50

Hi ecsc.

I have been trading in and out of GMG for 8 months. The first time was right after the last cap raising. I got hammered initially but then got out at $1.20 plus.

The next time I got in before the last distribution was confirmed in the 50's and was able to get out at 85 cents plus the 9.65 cent distribution (very handy). I should have held on for the ride above $1. I advised karasco at $1 when he was up a few hundred thousand to bail out.

The last time was in the 20's and then finally at 15 cents and I was able to get out at 40 cents.

GMG ended up being very kind to me on each occassion.

Anyway, each time I have got in too early and kept averaging because I believed the fundamentals at the time and that they were oversold by institutions. GMG has been a favourite of mine because due to the liquidity you can take large positions and there is a ready buyer when you want to exit. I think I have been a bit lucky.

However, this time their is a complete lack of clarity and with the news coming out of the UK I will stand aside. I think GMG could have tremendous upside when things are clearer.

Overall, I have carried out a lot of research on the property trusts and love the volatility.

As far as I was aware you can't short GMG.