STW, you make a logical and coherent argument - and I agree with you. However, in answer to your comment/ question: "I really think most of the weak hands should have been flushed out by now, otherwise I am really confused about who they are and what they are still doing in this stock."
@Thesi is one such investor that recently declared that he/ she had left the GXY stable. This is after being a strident advocate of the company and some of our management.
There are others that have declared their intentions and moved on to greener pastures.
My initial post was also a slight dig at the "experts" that were so assured of themselves and were adamant the share price will dip down towards 66c (clickity click).
I am not a fan of hubris - especially from self proclaimed experts on these threads - and was just mildly sharing my delight at them getting it wrong (again).
Short term chart thread, page-142
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