Snowball, I think there are a number of things that need to fall into place for the stock to be safe enough for you to buy:
1. PR settled, entire Municipal Bond crisis declared over.
2. Greenpoint Lehman settled positively.
3. Reliance Rail, Spanish toll roads -Liquidity mismatch resolved.
4. Legg Mason sale completed, some evidence of a mutual fund or hedge fund taking a position in the common.
5. Getting off the pinks, and writing new business.
6. Confirmation in the stock price that this is not a mirage. I would think that would mean a stock price solidly above the $3 level that was reached in February 2014. The higher the stock price, the more evidence that 1-5 happening are solid and will really change the outlook. Once 5$ achieved , still could be a good buy below 10. Stock could be bought on margin and more mutual funds can buy at a price higher than 5.
7. I think you need all these things to happen, otherwise you risk buying too soon.
