I called it DOWN from about $1.32 over about 2 weeks ago. Now it...

I called it DOWN from about $1.32 over about 2 weeks ago. Now it has $1.10 written all over it in the short term. Technically looks VERY bad. I had a closer look at the Sons of Gwalia (SGW) situation and you know what? The warning signs were not all dissimiliar either. However, at that stage when SGW started to collapse in that last month, its hedge book was about $300M+ in loss. LHG's is estimated to be in the mid 200's $M at the moment based on previous analysis. I really don't like the smell of it.