Osmo--

We all do what we have to do, but I don't intend to follow your lead and bail out. We both have roughly the same assets at stake here, and we both face paper losses at the moment of roughly 85-90%. The downside is the rest: another 10-15%.

I'm in at about $1, and I've sold April covered calls at a strike price of $2.50. So my upside is limited (your's isn't, unless you've sold calls too), but even if my calls are exercised I'm still looking at a 250% gain. When I sold the calls I decided that was good enough for me, and it still is.

KRY is a pure speculative play, by no means an "investment." No one in their senses speculates with money they can't afford to lose. So risking a 15% loss to keep in play a prospective gain of 250% remains enormously attractive to me.

I'd think differently--your reasoning would be appealing--if I thought there was a downward TREND at work. But this situation is characterized more by quantum jumps than by identifiable trends, it seems to me. Discrete, unpredictable events have been the norm these past few years, and one more such--a nice, fat, juicy favorable one--is still very much in the cards.

I'm in until the last desperate gasp.

FWIW.

Lope