It was ecouraging to see a bounce off the bottom yesterday and a close in the green, it's possible we re tested a bottom and may start to see some stabitity prior to earnings. The question in my mind is, was it support or short covering on a bad day in the market? I'm hoping the latest information on both Indtitutional Holdings and short term interest will be published next week and we can see where we are as of 3/13. Also as we saw at least one insider buy at $25 last year, one would imagine that we should see at the very least another one at a perceived bottom. Let's not forget the options issued at $20 and shares at around $17 last quarter. The stock action leading up to earnings will be interesting does the market think all the bad news is built into the price at this level or are we headed lower? I'm looking for confirmation of an end to this retraction and some visibility before re entering. I remain causiously optomistic but remembering to make my judgement on facts rather than hope, past performance or rampant speculation. "When the facts change, I change my mind and what do you do sir?"
The proxy came out yesterday. They showed the largest holders of stock at 3/31. Columbus Circle Investors, who was the largest Inst. holder of PKT stock at 12/31/2012, was not listed. Presumably they either sold out or reduced their position below 5%.