Yes, today was another encouraging day. Terrific volume again. As I've said many times, volume will cure all ills.
Although there were approx 800k shares sold on the bid today compared to approx 500k on the ask, the volume likely masked some liquidation as buys on the ask -- which is a very bullish sign, as this means that there was sufficient buying pressure to absorb the liquidation.
This is very good news in that the higher the volume each day, the quicker we can clear all this overhang. Until SCRC issues an 8-K confirming it, we have no idea whether today's liquidation was related to any of the potential converts from the three notes that matured on 1/10/14. There are simply too many sources of dilution mixed in the overhang now that it is impossible to distinguish them on a day-to-day basis -- all we can do now is continue to hope to see good volume each day, as we just need to flush as much of the overhang through as possible as quickly as possible.
The other piece of good news is that even with all this liquidation and the fact that sells outnumbered buys by almost 2:1 today, the sp did not give up too much. Sure, it ended red, but the bullish indicator to me was the fact that the lows are consistently "higher lows" nowadays. Not the lower lows that were part of the bearish trend when SCRC kept experiencing a slow bleed day after day. The trend is definitely continuing to be bullish for the time being, IMO.
News 
Market Data 
Discover 
