Sooooo looking forward to next Friday ... old orgy is off to warmer climates on that day .... and we'll be one week closer to the day of reckoning. With 11 trading days to go until the bids must be in, continued light volume will be surprising to me.

IMO the volumes demostrate there have been no concerted attempts to grab any meaningful quantity ... not even at stink bid levels.

Its all about retailers which is not surprising for a number of reasons

- can't get a meaningful quantity (5mil + shares) without raising the price substantially

- doesn't fit the profile of most investment classes

- perceived risk when most funds are already under water

- low priced investment grade stocks could be perceived as cheap and this far more attractive for funds with cash on the sidelines ... be them energy, gold or canadian bank

Some nibbling by insiders who know what kind of a bid will be offered by their company may occur, but ... too much could cause an investigation when and if our price shoots up dramatically

Of course there could be complete lack of demand because

- of preceived lack of demand for LOOKS assets ... seems highly unlikely to me

- past reputation of management (some people's personal favourite ... and the only possibility)

- lack of guarantee of real closure since no offer might be accepted, (why go through the exercise if you think there will be no legit offer other than to justify perhaps taking the assets private) or an offer accepted could result in a business continuation - then we don't get closure just a continuation of a painfully slow saga.

whatever the case may be ... it seems to me any voice of reason would be sensible enough to do the sun pig thing as the sale unfolds ... wishing the best of weather and of results for all of those who faithfully hold on to what could turn out to be the best investment of their lives .... or the really big fish that got away.

orgy