SYLOGIST LTD (SYZ.V)

SYZ.V continues to fall and is currently trading at $1.45 level and is closing to its 52-week low. I am concerned a bit about the coming quarter. However, even assume it does not make any money in Q4/06, it will still make 0.14 for FY06. At currently level, it is still cheap. Downside risk remains low. This is a part of microcap stocks that you have to take. Having said that, I did trim a bit at a higher price today (1.70), just to reduce my exposure.