I don't think we can put our finger on anything tangible with the future pps of NBG. I believe you are right about them not wanting to dilute further at these prices, but maybe they will dilute after a R/S. The point of dilution would be to raise more money. They know that they can't threaten to wipe everyone out and at the same time add new shares to the float. Nobody would buy into that but a fool (P.S. Maybe we're all fools). So, maybe they have until the end of the year to play it right...get things looking good to new investors. This is a gamble at this point, and my bet is that we are ok with swing trading until the end of the year - at which point I will re-evaluate and decide to stay or go. If we see a R/S, I will start to worry a little more...looking to recoup over the period of a few trades and then get outta Dodge. For the record, I don't enjoy gambling. I thought this would be in a better position by now. But that's life, and I'm going to hang in there and play it out. There was talk of some senior bond holders willing to inject more cash into the bank (as an outside re-cap...maybe in the form of new bonds) in an effort to hedge against losses on their existing investments. On another note, NBG was invited to make a chunk of money on a bond issuance recently (for another business) and they declined the invitation. Who turns down easy money like that? That's either reason for concern or comfort... The bottom line is, there are too many unknowns. I'm no technician, but I am not certain the charts carry their usual clout in this situation. We're far left of normal, for now. Greek tragedies...always so dramatic.
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