Bingo, that's why it's not at 1 cent yet. I think there are a few other people out there following the same perverse logic. Don't forget, every week or 2 it gets cheaper so why buy today?
I've been trading a Long time and speculators don't put in hard floors like this. This is real money at work.
As for me, I've bought all I can afford to lose so I'm gonna wait and watch and then decide on my next move. The good news is that if I'm right - it should happen soon; one, maybe two weeks by the looks of the latest moves.
Cheers!