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Metcash (MTT), fresh from launching its bod to acquire the domestic operations of Foodland (FOA) is back on teh boards in 3 minutes. It's currently matching at $3.10.
It announced a Share Purchase plan last night, after making a palcement to institutions at $3.00, which is also the price for the SPP.
The Red Menace advocates using ANY strength today to "daytrade in" to a 1-share position (buying some, then selling "some-1" to leave net 1 share in your holdings). He's got SEVENTY stocks (almost 7% of the whole market) in which he holds single shares from that mechanism... solelyto take advantage of SPPs.
more details later.
