Market reaction

There are two phases, legally and officially, to any critical announcement.

The first legitimate phase occurs soon after an ASX announcement occurs. Only the diehards look at it. They have no other jobs other than stare at the ASX announcement website. If the reaction occurs before the announcement, it is due to insider trading and that is illegal and unfair.

Then the next day, the press publishes the journalistic reaction and the readers of newsprint or webpages react to the day old news.

That is TAS. Yesterday, I told a surgeon I worked with, that even at 11c, TAS is cheap. This AM, it has climbed to 15c. So I am on my way to buying an Olympic swimming pool. If it turns out to be larger than Olympic Dam, then this stock is work 20-50 times over its current price if not much higher.

After today, my TAS turns green in one portfolio and nearly green in the other. Unfortunately, this kind of rally is rarely sustained. But if it falls to 10c or below, it is definitely worth topping up. RIO is intending to pump $92 million into a stock valued yesterday at under $25 million. Go figure!