  We present an analysis of the 2011 photometric observations of TW Hya by the
MOST satellite; this is the fourth continuous series of this type. The
large-scale light variations are dominated by a strong, quasi-periodic 4.18 d
oscillation with superimposed, apparently chaotic flaring activity; the former
is most likely produced by stellar rotation with one large hot spot created by
a stable accretion funnel in the stable regime of accretion while the latter
may be produced by small hot spots, created at moderate latitudes by unstable
accretion tongues. A new, previously unnoticed feature is a series of
semi-periodic, well defined brightness dips of unknown nature of which 19 were
observed during 43 days of our nearly-continuous observations. Re-analysis of
the 2009 MOST light curve revealed the presence of 3 similar dips. On the basis
of recent theoretical results, we tentatively conclude that the dips may
represent occultations of the small hot spots created by unstable accretion
tongues by hypothetical optically thick clumps.
