BK isn't in the cards... as it doesn't help anyone involved. The share price doesn't reflect company value here only because of the market contest being driven by the issues related to the financing terms.
Saw a couple of large block trades today that represent the largest portion of the volume... take those out, and it is looking like the deceleration I've been expecting is ongoing and then some.
A one month chart shows it clearly bottoming... while a tick chart shows a near total lack of conviction today along with a whole lot of aimlessness... but the trend down is intact and that continues to be the bias.
Doesn't mean it is ready to bottom hard and rocket higher... I think it may waffle around while moving down a few more pennies... but, at the point where there is news that presages a solid resolution of the differences between share holders and bond holders... it won't even matter what the deal is, as the current share price is lower than any deal price, and is lower than a price that benefits anyone in the longer term. It will go higher from here, just may not go higher before dropping a little more on lighter volume. Shouldn't really be any need to feel in a hurry to buy shares until you see some higher level of conviction supporting an upmove... but, it likely won't hurt to plan to begin accumulation "soon"... in order to avoid chasing shares higher. I don't think calling an exact bottom is necessary... and would expect to see a gradual reversal presage news by a day or two...
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