Like a bat out of hell TMG leaves the .08 level behindIf patience is a virtue then indeed I’m virtuous. I’ve been placing orders with 30-day expiries to buy TMG at .09 cents for quite some time.; in fact, it took so long that I began to despair that it would ever come to pass. But as luck would have it, my final order was filled on Wednesday when the market crashed through to .08.
Considering the old farmer’s adage, “that well bought is half sold” you will not pry these shares from me, -even with a crowbar!
Referring to ReduceCo2’s June 26th post, -that TMG trades at 1x’s revenue in comparison to a similar competitor that sells for 20x’s revenue, although it obviously does not speak to the possible advantages that the latter company may possess there still seems to be plenty of scope for our little TMG to run.
Retiresoon58’s comments are also interesting and duly noted. He would like to see the order backlog. But my price of .09 provides a margin of error for some insufficiencies which all companies seem to possess; so I’ll just sit on this one for a while and see where it goes.
P.S. Re: the trading in the last 2 days
It's the Wednesday bounce back to .09 from .08 that most impresses me. Perhaps .08 is bedrock with this one, -and we may not see a return to .08 for quite a while. Thursday’s action was also quite constructive. Of the 1,161,141 volume only 326,000 were outright sells. They came in 2 tranches of 221,000 at the high of .11 and a final lot later in the day (105,000) at .10. I suspect these were trading algorithims that mathematically calculated failure of upward trading momentum to follow through and triggered selling. Apart form these 2 instances the market was well supported throughout the day. I think it bodes well for tomorrow. GLTA.
And Ramman1 thank you for your input; I know you are quite familiar with this industry.