Re: [Payout Updates] Bitcoinica site is taken offline for security investigation
I, for one, am happy that positions will be liquidated around $5. That was the price when this shit happened, so it's reasonable. Plus, I have a short there 
Obviously you took a bad position so fuck you hahaha, just kidding
Long should be liquidate NOW at market price and shorts at a convenient time ($ 5)
Zhoutong's opinion was "all short positions can liquidate at 4.94".
https://bitcointalk.org/index.php?topic=81045.msg897877#msg897877
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Current positions will all be liquidated at a settlement price. We haven't decided the price yet, but my personal estimate is 4.98 / 4.94. (All long positions can liquidate at 4.98 and all short positions can liquidate at 4.94, we pay the spread for you.) All unrealized P/L will be settled in USD. If you don't have sufficient USD balance, we will use your BTC to settle, with the mid-point exchange rate (again, we pay the spread).