This stock is really suffering and mgt are doing nothing to prevent it...the opposite in fact. Sub-$1 here...next stop $0.90.
At this rate, post-reverse split, we'll be sub-$4.
You seem like a decent bloke, with your heart in the right place, FREE isn't even a good TRADE anymore...where's the volume and momentum going to come from to drive the stock price up so you could trade out even if you wanted to?
Look, there's a reasonable chance that the wider markets will now put in a short rally back up to 1100+ on the S&P500 over the next few weeks.
FREE might reach 1.05-1.08 again. You may think this is a turning point for the stock...but unless QE2 kicks off soon, this won't be the case and the wider markets will turn down again in Fall.
Seriously think about where FREE could be headed if BHSI stalls around 1000 and dow heads south sub-9600 and rapidly towards 9000...you're gonna see an even larger % wiped off FREE.
Not been wrong about the short-term price action in this stock...wish I traded this stock, I'd have made a small fortune.
If I had a ton of shares at $4-$5 a share I would be worried but my grand daughter has $200 invested out of her pocket. The price has to go very low to hurt her. FREE is reacting to the overall market and very low volumes and is currently not in a buy signal so I only boought a few shares.
The BDI is right on schedule at 2% growth per weekday since I started charting it on 7/29. At this rate it will hit 4000 the third week of SEPTEMBER. About then everyone is going to say " Oh Crap! Why didn't I buy back then?" Let us look at a probable time line of announcements: . Ballon loan refinanced. . Better contracts above $16,000 per ship. Costs under $5,000. . Strategy altered to combination of spot and longer periods as BDI grows. . Destiny gone. . Goddess back in action. . Envoy sold. . Debt continues to be paid down. . Reverse split approved. . Two new builds ordered with financing help from Korea or China and without net major dilution. We can discuss probabilities and dates and pros and cons and that's what a board is for. These are my thoughts. What are yours? When I get another buy signal I'll buy a lot more.