RE: NAV
Fundamental analysis tells us that this stock should be worth minimum .25 which is the book value currently. Yet most people playing with there computers in this digital era have for the most part abandoned fundamental analysis of a stocks value and are mainly using technical analysis with graphs and moving averages. Technical analysis main principal is that it assumes that the market has fairly priced an asset and uses moving avaerages to try to predict direction. The problem is that in a lot of cases as we see here is the technicals are way off from the fundamentals and the technical indicators in this current market environment create a misspriced situation. I have seen this before numerous times where companies are not even worth the cash they have in the bank never mind the business. Eventually things will work themselves out as more people realize the stupidity that has been created by a bunch of computer program traders using technicals ignoring basic accounting and fundamentals. In the meantime take advantage of the markets ignorance and a bunch of computer technicians selling you shares at half book value. CHIMO>