I'm not currently short this stock nor would I short it now. Too close to the bottom IMO.

Picking the bottom is tough on any stock. My 40-45 bottom was based on eyeballing the 2005 levels but as I look at the prices again and in closer detail I see it traded at 33.5 cents on July 28 and 29, 2005, which appears to be the low for the year. I suppose it is not surprising to see it under 40 but I seriously can't see it much lower than the low today unless they do some absurdly dilutive equity financing. I'll likely jump in for a quick flip on the bounce. Tomorrow might be the day since it is down over 50% in the last four sessions, mostly in the last three. I can't see holding it past the dead cat bounce since it will likely base until there is some impetus for it to move up. Can't see that happening this year.

Like I said, I'd be interested in a debenture financing with a healthy 8% plus yield, paid to wait. If the company had any brains/balls they'd initiate a share buy back initiative which would demonstrate they feel it is undervalued at these levels. But if the CEO doesn't have any skin in the game, then I would be reluctant to buy and hold the common shares for any length of time.

AIMO