Did I really expect news on a day when the USA goes home early? No.
Did I hope, given yesterdays massive volume and sell off, that we would hear something from the actual company? Yes.
The problem is not that the news was as bad as you put it in your riddle. I just refuse to be stuck in a trading vacuum as every time I've thrown caution to the wind on GWG I've come to regret it. I mean my god look at each announcement over the last year and kicks you in the head. Then everyone says well that's all right a little more dilution won't hurt or, so the purchase placement crashed the price or, ya the bond holders got a sweet payday but I'm sure we'll rally tomorrow.
Sorry dude, as I just said to Springtrader I'd rather pay more to re-enter fully then get caught in some announcement that takes things even lower.
You well know that even with the low volume the last few months the T.A has generally been negative and ignoring it was costly. Starting on January 01 2011 until today the chart is a text book lower highs and lower lows. Is it going to turn at some point? Most likely. But I'm just not sure that we don't have one more leg down.
Now on an unrelated note. What happened with MCP today? Up 20% on a half trading day, something is up, hey who knows maybe it involves GWG.