I'd recommend you take your technical analysis, AND take a look at the balance sheet - the company is sound. Add to that a juicy Price To Sales Ratio, and PBY is a stock worth taking some risk on. If you are looking to trade this one forget it! They are in the right market, and have been hammered. Remember, buy low - and these guys look pretty low to me.
I have never implied this company is not financially sound, but markets move as much on emotion as fact. If you have been trading a while you know that's true. Of course everyone wants to buy low and sell high, but determining where those points are is no exact science. All I am saying is the trend is still down. Look at the chart. Why buy a stock on the way down? I would rather wait until it turns the corner, pay a couple of bucks more and not try to swim upstream. Nobody can time tops and bottoms, if you could you wouldn't be posting on this board, you would be way too busy ordering that next Mai Tai on the beach.
As I've said before, without positive news either in the form of an earnings surprise or analyst upgrade this stock doesn't have much near term upside. I did close out my short position today, so I hope it does go up. Longer term I think it will be O.K.