This stock is on sale and I agree with Alpha. I have a considerable holding now but tempted to buy more. I am close to 60K at this level. I would have liked to wait until EROTC and if the stock drops buy another 30-40K to average down. Not sure what to do, I didn't think we would see 2.10 again.
Our large institutional holders seem to be holding. Other institutional holders are selling and have sold a ngative net difference of 1 mil shares. Probably don't like the uncertainity, the negative research reports about EROTC and the continued variability in stock price. Besides all this the US is in an economic recession with a weak dollar. Many funds are looking at over seas investments where the economy is growing.
I know the subprime has a lot more writedowns yet to come. ARM's reset interest rates later this year. Interest rates are headed higher and home values are headed lower.