That is the worst part of all of this. It STILL hasn't capitulated a bottom yet. You will know it's a bottom when it's down 7%+ on very heavy volume, with an intra day low much lower than the closing price. Until that capitulation happens, there is no bottom. And it's really not in sight yet. The day after earnings is perhaps the time it will occur, but the stock should be well into the $9s by then. So for the bottom look mid to low $8s.
Set a buy order for $8.50 if you actually have any cash left at this point. I have none left (was already all in before last qtr earnings), but some of you may.
Furthermore, there is absolutely NO buying interest WHATSOEVER. Shorts have no interest in even thinking about covering, and no funds want any part of it. The business is currently valued at less than $90m, and even then it can't entice buyers. And the situation only gets worse each passing day with no news, even though Brear told us about all this activity supposedly going on 1st half of 2013.
Until it capitulates and buyers actually become interested, it will go down. And down. And down. That is the bottom line.
I don't disagree with anything you have posted but I have to ask, if you are convinced we have another 15% drop ahead of us why haven't you sold yet with the goal of replacing those shares at a much lower price?