"It is obvious that a level of capitulation has been reached,..."

Actually, what's going on is "true longs" are selling to take advantage of cheaper prices in the private placement financing. It means some holders are acquiring more shares at a discount, while they are not be out of pocket for anything more than their selling commission, and then they have more shares than if they just sat aside and wached. This is not capitulation. Unfortuately, if means softer prices until this private placement round is done.

VP