Thanks for the info on XO and GLBC. I feel more comfortable with holding XO and waiting to see what sorts of opportunities present themselves down the road. I think it is worth the risk to have bought in on the chance that it swings up before the "normal" cycle runs through.
My electronic news service keeps pulling up boatloads on bluescope. Is there any aspect of that company that you'd like to know more about? I could try and post the relevant articles as they pop-up.
My guess is that the aussie's must have better electronic media, because most of it is nothing special. But I can't find squat on GLBC. I've tried reconfiguring my search criteria, so we'll see if that helps.
BTW, how does MCLD not avoid a second bankruptcy...I would think that they have to do some sort of massive rights offering or something...looks like Teddy Forstman misjudged the turn in telecom again...will be interesting to see if he bellies up in a big way or the bindholders take control...Icahn as set himself up as the buyer of near-last resort for a lot of these assets...I would like to see XOCM consolidate this industry and create a very large (in terms of rev's) competitor....as we have seen, scale works in telecom and he could use that scale to weather the prolonged storm and emerge as one of the few plays around when ground returns to the industry....
XO is just like GLBC in regards to its trading...you have the Allegiance bondholders getting 45mm shares...some will invariably look to hold but I fancy that a large % would look to sell and move on...so gueesing the bottom relates to just churning through that potential volume...my hunch is that we are some reasonable time from that being complete barring some significant incremental information...GLBC has to burn thru 15mm shares...and has probably done about 1/2 that so far even though reported volume is in the 12mm range since it listed on the NAZ...the diiference is explained by the fact that the volume is double counted...as we have discussed many times before...I own 100K XOCM and would love to see it grind into the 4's to find a clearing price....my hunch is that we see the low 5's as a minimum...my strategy is to just add on the way down...which, of course, is cardinal sin #1 in most investors book...when will I ever learn???
Glbc is a riddle, very odd price action. I'm not sure whether the creditors are out of the stock yet. Will be interesting to see what they say on the 10th. Unfortunately, I'll be in the air at the time.
I'm actually not a big worrier, but I find that with these non-Dow type stocks that I'm fairly wary of certain things. Like road ore's dividend comment, I know that the MTLM management wouldn't want to force a tax event on shareholders, so the split shouldn't be like a cash dividend, but....
Anyway, thanks again. I think I'll go over to the MTLM board and pick some fights.
OT: I'm sort of surprised to see XO creeping down so much. I went into it pretty light around $7 and I'm thinking of doubling up.
I'll watch it a bit longer, however, as if I miss the bottom and it turns north, then at least I still hold some, and if it goes down lower...well, then just a better buying op.