RE:RE:Iceberg buy order at 0.30 cents...Bang on assessment. I said that after the first bought deal, that this was a way for MMCap to continue to hold down the stock temporarily while getting that fat coupon on their debentures. They simply ran out of ammunition as this started to tick back up, and was placed back into a few ETFs. Now they have 70+ million shares to help continue the shorting effort. Volume has dried up after the last rally, and we will be range bound for the next while in the high 20's to low 30's.
Unless there is another catalyst, which I doubt there will be for the next quarter or two, this will trade sideways.
Anything under .28 I've been buying. I also hold half of my position in the debs, but now they are trading at a premium to the equity (last I looked), so equity makes sense now.