RE:Next supports:So I'm no technician, but I think the premise of technicals (indicitive of market psychology) may better apply to bigger firms that are more fully traded.
I see some merit on the upside (greed) but downside (fear)??? Not so much. It's only cause this cannot get any cheaper. Sure it was $2/share. But that was priced for bankrupcy. And that ship as sailed. And the cycle is in full force. And the going rate for takes outs is too high. I just can't see the equity value drop from 20% of fair value to 10% or 5% or fair value as it's to compelling for value investors or coprorate raiders to take a gamble on.
In short, I don't think there is a need to worry on downside. What my worry is, well, it's going sideways for a few more quarters while these guys figure out how to run the new mills. But it's the risk we take I suppose buying a billion dollar + bundle of assets for 16 cents on the dollar right.