Snap--re: CPTCQ...The feeling I'm getting...
From a friend that sat in on the Hearing yesterday, is that it could go either way...Chapter 7 chances are very small...
Getting the Confirmation Hearing approved Friday or next Monday is not going to be easy, as they have no Revenues booked in the last few months because of the 'Q', and this is what the Judge is really looking for...Though one group of investors claim to be able to come up with an addition $45MM of additional financing at the drop of a hat to keep the Company afloat, and have a letter of credit to prove it...A representative of General Cable was denied telephone testimony, and will have to show up in person...His testimony will be good for CPTCQ's case from a cheerleading point of view, though as the North American Sales Reps, they have been unable to sell any ACCC in months...
My feelings are the case may be continued even longer until a Lot of Revenues are booked, which is kind of a Catch 22 scenario...
I would expect some downward action the rest of the week...
I don't hold any shares, but do daytrade it when it has News for a couple of hours until I think it has topped...
