Smudge. You are exactly correct in your analysis of PCBM. It is one of those stocks that has a definitive range in which it trades in and that is how the majority play it. It is a great way to make money, establish a lower cost average, or just end of with free trading shares.
I don't follow it close enough because it seems like it takes a bizillion shares to move it but if they have filed with the SEC in the past, the E will be remove almost immediately when the file the quarterly. If it is an itial filing, it will take a substantial amount of time to get it through.
NICM is is a prime example. The ideal thing would have been for them to have filed without any M & A in the works and it would have been a much quicker process. However, they felt it was necessary IMO to clear off the debt, lawsuits etc. prior to filing which is hard to argue with. Now we are at the mercy of the SEC as they investigate not only NICM but Oxford and CEA as well. If the other M & A have occurred that just adds to the mix. Although I hate the wait, I would rather see them continue business as usual than kick back until approved.
As far as your smurfiness goes, you are not alone. It is buying season for sure but people are just plain scared holding a stock overnight. RNWK closed at 21 3/4 or so Tuesday and opened at $10.50 yesterday for 50%+ loss. Have the fundamentals changed overnight? NO but the reality is attitudes have. Those who held from Tuesday lost 50% if they sold and those who bought in the am gained 50%. I am holding my breath but trying to remain alive because big bucks can be made with these kinds of swings.
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