welcome to the jungle..could be the bondholders most likely
will buy more if it goes under 6...doubt it. this is overdone..again
now Im no BK lawyer but everyone's sneakin out the back door
the hatchet woman..she will anhilate the last of the equity holders to save 400M dollars in restructuring gains...watch.
I've been carefully watching price action as I'm 15k long from $2.50..what may be happening here is that $1.50 level to me is critical..a close below and we could go quickly to 1.2...and maybe test under $1...it appearsto me that shorts arent really covering and many long positions still being unwound...Im hopeful that drop from 2.5 was the final washout but it's hard to tell..you are right on but time will tell from here
shorts are pressing for the last few pennies...and some or many are covering...look fundamentals suck..all known...but they recently raised fresh funds in the bondmkt now trading at 65c/dollar but it all depends on coal pricing now...place your bets..not shorterm
hate it or love it...hope july better for longs
just bot a 15k sh positionat 2.5...will look to enter again if it tests and holds 2.2...
give it all back in 2 days back to 2.40....reason?...fundamentals suck ...so if you're going to buy a position here
save some for the inevitable retest...but it's time to accumulate