Thats what I have been hearing. I own this around .60 and thinking of taking profit, but might as well just forget about it and come back to it hopefully someday above $5.00.
Bailouts, plus it looks good with regard to technical analysis. (ie. the double top and tripple top breakouts if you're using P&F charts)
well, what i see it as is a combination of: -> normal short covering / lottery playing of eventual worthless stock...short covering (at 30c) from those who were short from much higher and figure why hold on any longre? -> unable to short exc. through puts; (which i got a bunch of today) or through FNA. normally, smarter people are able to short the common, unable with recent 'no shorting!' rules. check out the action between 10:15 and 10:45 ; on these cheapies, that's textbook high % top setup. normally, any cheapies that are long-since-known to be 'worthless' have double/triples from their lows. that's nothing new...
maybe the government sponsored bailout will be funded by profits from the AIG/FNM/FRE trades hehe in all honesty i know its shit for the credit markets that this is not getting passed quick but i am glad lawmakers are at least taking some time to think this over...