Hi @mirren :) Yep, it's predictable and sad. I have some bias...

Hi @mirren
Yep, it's predictable and sad.
I have some bias towards BAL, which I am very aware of. Have loved the story since I first bought it in April 2015. Am in no hurry though.
Of the collapses I've seen, almost all wind up trading in a low channel for some considerable time. SRF is another one I'm watching closely.
Some punters will be down 100s of 1,000s of $$$ in BAL right now. I can see no reason at all for a huge bounce (that happened last week and lasted a few hours). As of now, I'm guessing a low of about $3.70 if it falls through $4, but who knows?
The company has offered up a sacrifice, got some new non-exec directors, made deals with suppliers - all good in my eyes.
The class action stuff *might* happen, probably not.
How will their significant holders react to these changes? What about Jan Cameron? Still plenty of smoke at the moment.
I will probably wait and see. When I suspect that a bottom has been formed, I'll possibly put in a small pilot entry and watch.
Nice thing is I have a 2 year timeframe. And yes, buying into an uptrend does make a lot of sense too
Be well.