Trips Soon.. Greed of the converters prevail.. The last Qtr. indicated some of the close preferred converted a small amount and brought the shares out close to the Auth. allowed,, but since the date of the last qtr. it appears stock has come to the market in chunks at times.. Yesterdays volume seem more crossed than traded so I assume Conversions are back on the board and as in the closed conference call was brought out that Auth shares outstanding would increase sooner rather than later..
Also the converters may be unwilling to hold because of the terrible earnings and the loss of sales in what is the best qtr. if history is any guide..
Anyone buying seems to be buying into a bag of S**t that seems to be constantly being filled.. Bounce will come when the converters stop selling and the convert and do another P&D.. That will happen when the risk reward ratio comes back in their favor.. Until then they will just sell and replace 30% lower until they are sure they may convert big and the price is right.. Wash and Rinse..
This should be a sticky,, mods.. hank
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